In my attempt to learn in-depth the working style of prominent investors, I explored Ralph Wanger in my first such post. His book was amazing and gave a lot of insights. This is my attempt to explore another great investor: Julian Robertson ( popularly called the ‘Tiger’). I recently read a lot about him, including […]
Eye of the tiger (and the cubs) : Investing – Julian Robertson way !!! Read More »
It has been quite a while. In these 2 long years, I went from working for a fund to start my own advisory firm along with an excellent investor and most of the time has been spent understanding businesses and reading annual reports. Few years back, I thought of starting a series of articles called
Octavo Pansophy #1: James Gipson Read More »
Imagine the following scenario. You are sitting at your work desk sipping your coffee when your boss comes and offers you the following deal. He offers you a fixed bonus of Rs 1 crore for the year. Besides this, he offers you a variable bonus. For the variable bonus, he asks you to either
Human Misjudgment : Deprival Super Reaction Syndrome Read More »
Authority, authority!” they shout Whose minds, not large enough to hold a doubt, Some chance opinion ever entertain, By dogma billeted upon their brain. ~ Ambroce Bierce There is one thing we all have been taught from very beginning and that is to accept what our elders tell us; to accept their authority. To do
Human Misjudgment : Authority Read More »
Today I discuss the human trait that, despite all its glory, has lead to disastrous consequences for many individuals and societies and specifically in investment world. In fact, if there is one trait which, even though I do frequently observe in successful people in various other human endeavors, is very rare to find in
Human Misjudgment : Endowment Effect Read More »
Few years back, while buying a book on Amazon, I ended up buying two more books along with the intended purchase. It was due to a feature of Amazon, which tells you what other buyers have bought along with the book you are trying to purchase. I never heard of these books earlier but
Human Misjudgment : Social Proof Read More »
“I hated discussing ideas with investors, because I then became a defender of the idea and that influences your thought process.” ~ Michael Burry (The Big Short) I’m sure this is one statement most of you will relate to. We often discuss stock ideas which, we understand, are contingent to future events but if we
Human Misjudgment : Confirmation Bias Read More »
If you are sitting in a dark and unknown place for long time and someone switches on a light source, the initial feeling is of discomfort (especially for eyes). But once you get comfortable, you realize how different that place is from what you initially thought it to be. In my college days, I
Human Misjudgment : Reciprocation Read More »
By the time you read this article, the world’s largest economy would have decided its President for the next 4 years. There is always an excitement in the markets worldwide when it comes to the US election and especially this time, given the state of the US and world economy. The parties have left
Human Misjudgment : Love and Hate Read More »
Let me begin by thanking all the readers for their appreciation of the previous article on ‘availability bias’. And a special thanks to a particular reader, who indirectly gave me the idea about how I wanted to present this next nugget of wisdom by Munger. This goes on in form of a conversation over
Human Misjudgment : Incentive Caused Bias Read More »
