In late 2021, I wrote a posted titled “My Investment Philosophy”. In the section on valuation and modeling, I shared some thoughts on how I approach the balancing act faced by long-term investors when they find themselves holding businesses at higher than average valuations:
Bravo, Alex. Wonderful insights. Shows a real sense of self-awareness and introspection that I believe is critical for any investor. I firmly believe that we all have unique strengths and weaknesses. It is important to find an investment process and approach that maximizes those strengths and minimizes those weaknesses. So no two investors, no matter how like-minded, should approach an opportunity in the same way. And the ability to think independently and ignore outside noise is foundational. Sadly, there is way too much group-think, especially among certain “fund families”.
Well said Alex
Thanks 2nd Cut!
Bravo, Alex. Wonderful insights. Shows a real sense of self-awareness and introspection that I believe is critical for any investor. I firmly believe that we all have unique strengths and weaknesses. It is important to find an investment process and approach that maximizes those strengths and minimizes those weaknesses. So no two investors, no matter how like-minded, should approach an opportunity in the same way. And the ability to think independently and ignore outside noise is foundational. Sadly, there is way too much group-think, especially among certain “fund families”.
Thank you 50W-AT!