Between how aspirants learn from the best in normal domains vs in stock-markets.
Do you think the original GOAT philosophy will hold true for the next say 100 years? Is value investing timeless? or new philosophies will emerge as the markets evolve?
For eg : assessing intangible value of tech companies ( and the often lopsided valuation associated with them) ?
incisive post on deciphering traits of real vs amateur investors. An interesting article to read & absorb...investing is more about avoiding making terrible mistakes than making few awesome decisions.
Amazing comparision and table is hilarious but harsh reality.
xcellent analogy, and hits the point home. "It is simple but not easy" Charile said. The reason many can't do it this way is the institutional money manager is in the asset gathering business (rarely does a money manager return money at stock market peaks or when there is irrational exuberance).
They typical money manager optimises for lowering career risk which reminds us of the brilliant saying of Lord Maynard Keynes - "Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally". Guessing what other guessers are guessing - that too over 6-9months time horizon.
loved this piece. couldn't stop laughing. and i can see an amazon studies backed stand up in the making saar :)
Crisp table and to the point, saar! Excellent writing.
I burst out laughing at this:
"Also, barber thinks you need a haircut"
Good one, saar. 🙏
P.S. - Have Pulak's book queued up next, once I've read the ones I'm midway through.
Great article once again, if it were not for the 99% who behave like the RHS of the table the twosome awesome GOAT who behave like the LHS of table would not have got the results they got over decades..
Love the thought that went into making that table :)