Another interesting post thanks... "As an illustration, one investing process is to own good businesses for good. There are instances when this backfires, as valuations correct. So, is this process flawed. The answer requires a retrospective decision tree, with two branches, actual and counterfactual: (a) Own for good, (b) Sell on a valuation rule." Does this mean that once you buy a company that fits in your process YOU NEVER SELL IT ON VALUATION RULE or is there any price at which valuation becomes too much and you sell on the valuation rule also...
Another interesting post thanks... "As an illustration, one investing process is to own good businesses for good. There are instances when this backfires, as valuations correct. So, is this process flawed. The answer requires a retrospective decision tree, with two branches, actual and counterfactual: (a) Own for good, (b) Sell on a valuation rule." Does this mean that once you buy a company that fits in your process YOU NEVER SELL IT ON VALUATION RULE or is there any price at which valuation becomes too much and you sell on the valuation rule also...