First: Why was I so reckless to contemplate this kind of risk?
A1: I was young & just started investing
Concentration can be good (w/ some skill & *lots* of luck) for capital accumulation.
It's *terrible* at capital preservation, but I didn't have capital to preserve yet!
2/15
Feb 23, 2021 • 21 tweets • 8 min read
🔥This is a (timely) must-listen for any investor 🔥
Grantham exudes wisdom and encyclopedic knowledge of market history with each answer (great questions, @patrick_oshag!)
Some highlights in thread below (transcript courtesy of @joincolossus )
On bubbles going further than anyone can imagine, and the difficulty of being a value investor or growth skeptic.
Japan 1989 went to 65x trailing P/E!
2/n
Dec 27, 2020 • 4 tweets • 4 min read
‼️Add to your “Signs of a top” ‼️:
The “investor” profiled at the top of this WSJ article has a TSLA 2025 target of $20,000 ($20T market cap). His $10M+ portfolio is 100% TSLA stock and calls *on margin* ‼️
This could be a thread, but I don’t know what else to say. 🤷♂️
UPDATE: Mr BB is rapidly expanding into “educating” new investors on his success and approach. Quickie YouTube podcast concludes with “we’re *contrarians* here”! 😬🤣