Longevity is more important that a short lived, sudden success.
Am currently watching Pabrai talking about Marketing and human relationships. One would think that someone in the stock market shouldn't care too much about the seemingly thoretical subject of marketing.
But, everything adds up.
For example, I can well imagine why Bajaj Auto will succeed where Hero will become mediocre.
Also talks a lot about cloning in businesses. It's fantastic to copy; somehow kids in India are more than happy to do so, but as grown-ups, they find it demeaning.
In other news, there is a sudden bout of euphoria in the Indian markets because Narendra Modi will be India's next Prime Minister. Let's see what he does.
Meanwhile, I refuse to buy things based on prospects and at a price above my understanding.
There is a beautiful Seth Klarman quote.
“…conservatism may cause investors to refrain from making some investments that in hindsight would have been successful, but it will also prevent some sizable losses that would ensue from adopting less conservative business valuations.”
I think I am currently there right now.
Am currently watching Pabrai talking about Marketing and human relationships. One would think that someone in the stock market shouldn't care too much about the seemingly thoretical subject of marketing.
But, everything adds up.
For example, I can well imagine why Bajaj Auto will succeed where Hero will become mediocre.
Also talks a lot about cloning in businesses. It's fantastic to copy; somehow kids in India are more than happy to do so, but as grown-ups, they find it demeaning.
In other news, there is a sudden bout of euphoria in the Indian markets because Narendra Modi will be India's next Prime Minister. Let's see what he does.
Meanwhile, I refuse to buy things based on prospects and at a price above my understanding.
There is a beautiful Seth Klarman quote.
“…conservatism may cause investors to refrain from making some investments that in hindsight would have been successful, but it will also prevent some sizable losses that would ensue from adopting less conservative business valuations.”
I think I am currently there right now.
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