- Short term investors are extremely myopic and emotional
- Big news coming out about Zest
- Investors will not buy stock when its going up… but they never buy when its on sale?!!!
- Volatile periods like this are the times that create opportunities to invest in great businesses
- Stress test example of a radio listener
- Tolerance for risk/volatility is extremely important
- Investment objectives matter
- Investors spend all their time focusing on individual companies and not the portfolio as a whole
- Time in a business not timing a business
- Example about “great winners” over the years
- Reporting structure: you don’t have the most accurate info on how your portfolio is doing
March 1, 2018