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Knowledge is overrated. Wisdom is underrated. Intellect is overrated. Temperament is underrated. Outcome is overrated. Process is underrated. Short-term outperformance is overrated. Long-term adherence to one’s investment philosophy is underrated. Gross return is overrated. Stress-adjusted return is underrated. Upside potential is overrated. Downsi
... See moreGautam Baid • The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
Our triangles present three main inversions, three ways to think differently. I’d encourage you take close note of each: First, we prioritize being “less wrong” over being “more right.” Managing risk is a priority over enhancing returns. This risk-first mindset flies in the face of most elements of the modern money culture. It also happens to be th
... See moreBrian Portnoy • The Geometry of Wealth
What I hope you’ll remember most from this section are the following points: • Don’t overestimate the skill and wisdom of professionals. • Take advantage of what you already know. • Look for opportunities that haven’t yet been discovered and certified by Wall Street—companies that are “off the radar scope.” • Invest in a house before you invest in
... See morePeter Lynch • One Up on Wall Street
