Yellowstone:
Filter down 1% of the companies by financials and management
Invest at 0.5x intrinsic value
I would even write that financials can provide better margin of safety than management - Reputation of the business generally succeeds (WB)
Even if you factor in Black Swans, one can aaram se make 15%+ compounding.. I agree
Steer Clear of the Short Side?
Very tempting but sureshot way to lose pants if you are mediocre, not for the faint souls who are happy eating idly sambar for a saturday breakfast..
More than 80% of the fund managers lag indices - There are ample reasons for that:
Govt. Regulation: Definition of what constitutes diversification
Competition: Continously comping against the best and following a trend
Structure: Significantly dependent on retail investors who historically have invested and dropped out at the wrong times
"So my choice is very clear that I will not negotiate on the quality and if I don’t get it at an absolute bargain basement price, I am willing to pay a little higher but the portfolio has to reflect the quality" - Ramdeo Awl
Filter down 1% of the companies by financials and management
Invest at 0.5x intrinsic value
I would even write that financials can provide better margin of safety than management - Reputation of the business generally succeeds (WB)
Even if you factor in Black Swans, one can aaram se make 15%+ compounding.. I agree
Steer Clear of the Short Side?
Very tempting but sureshot way to lose pants if you are mediocre, not for the faint souls who are happy eating idly sambar for a saturday breakfast..
More than 80% of the fund managers lag indices - There are ample reasons for that:
Govt. Regulation: Definition of what constitutes diversification
Competition: Continously comping against the best and following a trend
Structure: Significantly dependent on retail investors who historically have invested and dropped out at the wrong times
"So my choice is very clear that I will not negotiate on the quality and if I don’t get it at an absolute bargain basement price, I am willing to pay a little higher but the portfolio has to reflect the quality" - Ramdeo Awl
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