Hard part of investing isn't finding an approach that works, but sticking to it over many years. To do so, "does this work for me" matters more than "does this work".
Amazingly well written, Anand. You've very beautifully explained the concept of "Swadharma" from Bhagwad Gita by applying cricketing analogy to highlight a very important point for the investor community. Always a great pleasure to read your essays and understand your philosophy of what works!
This was one of the most thoughtful and insightful essays of yours.. It spelled out the Game of Investing in a simple yet profound manner.. I am in the process of figuring out the game (guess all of us are in some way) but am relatively more clear on what works for me.. "NO" has become my favorite word on most occasions i.e. invitations/tips/invites/suggestions etc. And I like it that way.. Long way to go still..
Great read as always. Shutting out noise to remove the cognitive dissonance of "something else for some else is working faster and better" and let me jump from this slow moving car into that porsche (often a mirage) is the single biggest reason for broken legs and bruised egos. As they say, fewer grand fathers died driving a maruti zen than youngsters driving a porsches.
Thanks for writing. I have read this article a month back , re read it immediately and sleeping over it since then. Applying the same to all the stocks I was following, feels like I started moving in the direction of getting sorted. I am able to appreciate quality more now. It’s not just that, I started to incorporate these principles in a small biz our family runs and it’s all making more sense now. I am re reading the article again n again . Each time, I re read insights are getting deeper n deeper - May b next order thinking is getting kicked in just like re reading of Holy book Gita.I am quoting this info in many situations where biz discussions are being debated in matters related to long term . I have read in many places where they say management is important and this is the only place where I got an insight on what really is good management. In fact,I am able to connect many other biz related things said by stalwarts like buffet, munger, Pabrai etc with the mental foundation built after reading this master piece. Thanks for generously sharing the knowledge which you have acquired over a very long internal journey towards wisdom and I sincerely wish you go much further in your journey so that people like us could get an opportunity to learn whenever you pen it down in this sub stack. Many thanks sir.
While the essence of your note is really clear ..what is NOT clear is that there is a thin line between what works for me and being stupid OR stubborn enough to mis-judge that THIS works for me & then wait till cows come home for 10 yrs or more for that sector / stock to 'work'.....How do you know if what works for me is THAT place in the tent which will eventually take me to my goal ?
Over the medium-term at least, we can tell if our approach is working. Even is stockprice is unreliable, there are enough business metrics to guide on whether I am getting my theses right or wrong
Very good message - key point- highlighting difference between what works and what works for me - is very thought provoking - as what works was treated as if it will work for me also . Same point was told by Buffet - know your circle of competence .
By the way - where can we acess your other article ?
Amazingly well written, Anand. You've very beautifully explained the concept of "Swadharma" from Bhagwad Gita by applying cricketing analogy to highlight a very important point for the investor community. Always a great pleasure to read your essays and understand your philosophy of what works!
Swadharma says so much in so little.
So true.
After about two decades of investing I can tell you- this is 100% true. It took me a long time too but I concur with every word written here.
This was one of the most thoughtful and insightful essays of yours.. It spelled out the Game of Investing in a simple yet profound manner.. I am in the process of figuring out the game (guess all of us are in some way) but am relatively more clear on what works for me.. "NO" has become my favorite word on most occasions i.e. invitations/tips/invites/suggestions etc. And I like it that way.. Long way to go still..
Great read as always. Shutting out noise to remove the cognitive dissonance of "something else for some else is working faster and better" and let me jump from this slow moving car into that porsche (often a mirage) is the single biggest reason for broken legs and bruised egos. As they say, fewer grand fathers died driving a maruti zen than youngsters driving a porsches.
Seems you are the Dravid of investing. Another great essay!
No blasphemy here, please
https://twitter.com/contrarianEPS/status/1408855920235323393?s=20
Thanks for writing. I have read this article a month back , re read it immediately and sleeping over it since then. Applying the same to all the stocks I was following, feels like I started moving in the direction of getting sorted. I am able to appreciate quality more now. It’s not just that, I started to incorporate these principles in a small biz our family runs and it’s all making more sense now. I am re reading the article again n again . Each time, I re read insights are getting deeper n deeper - May b next order thinking is getting kicked in just like re reading of Holy book Gita.I am quoting this info in many situations where biz discussions are being debated in matters related to long term . I have read in many places where they say management is important and this is the only place where I got an insight on what really is good management. In fact,I am able to connect many other biz related things said by stalwarts like buffet, munger, Pabrai etc with the mental foundation built after reading this master piece. Thanks for generously sharing the knowledge which you have acquired over a very long internal journey towards wisdom and I sincerely wish you go much further in your journey so that people like us could get an opportunity to learn whenever you pen it down in this sub stack. Many thanks sir.
Sometimes, it's funny how the same base principles are valid across domains and yet we keep failing to get them.
While the essence of your note is really clear ..what is NOT clear is that there is a thin line between what works for me and being stupid OR stubborn enough to mis-judge that THIS works for me & then wait till cows come home for 10 yrs or more for that sector / stock to 'work'.....How do you know if what works for me is THAT place in the tent which will eventually take me to my goal ?
Over the medium-term at least, we can tell if our approach is working. Even is stockprice is unreliable, there are enough business metrics to guide on whether I am getting my theses right or wrong
Very good message - key point- highlighting difference between what works and what works for me - is very thought provoking - as what works was treated as if it will work for me also . Same point was told by Buffet - know your circle of competence .
By the way - where can we acess your other article ?
All my articles are at both buggyhuman.substack.com as well as my LinkedIn page