Links - 4/4/2021
“One of the big issues investors face is preconceived perspectives. When we look at a stock, what goes on in our brains when we encounter a company for the first time? For the first 30, 60 seconds, or first couple minutes? That has a huge impact on our financial well being and how our portfolio does. In the first few minutes, you’re making a decision on whether you’re going to take a pass at a company, or spend another 15 minutes. And at the end of that 15 minutes, you’re going to make another decision as to whether you’re going to take a pass or spend an hour or two, and so on. No investor has enough time in the day, week or year, to look at anything more than a small handful of businesses in some depth…. I think it’s very important to be aware of commitment bias, and to be very aware that the first two or three minutes that when you’re looking at a company are when you have to make the call. It’s okay to let a winner go, but more important not to let a loser stay.” —Mohnish Pabrai
Christopher Bloomstran’s foreword to the book The Complete Financial History of Berkshire Hathaway (LINK)
Inside Archegos’s Epic Meltdown ($) (LINK)
Matthew McLennan on WealthTrack (video) (LINK)
The Big Lessons of the Last Year - by Morgan Housel (LINK)
Pregnant? Breastfeeding? The Vaccine Might Protect You and Your Baby (LINK)
“We must be willing to get rid of the life we’ve planned, so as to have the life that is waiting for us.” —Joseph Campbell
“Whenever you do any one thing intensely over a period of time you have to give up other lives you could be living. You have to have a real single-minded kind of tunnel vision if you want to get anything significant accomplished. Especially if the desire is not to be a businessman, but to be a creative person.” —Steve Jobs