The document delves into the importance of conviction in business ownership, detailing the role of explicit and implicit convictions in investing decisions and the concept of Quality in company assessment.
The better the investor, the simpler the questions. When I started, I was obsessed with jargon, complex questions and spreadsheets. Now I ask things like “what does it do?”, “why do people buy it?”, and “why are you selling?”. And I never do more math than I can fit on a napkin.