Dan Loeb's Q3 Letter
Better late than never, especially with a great quote like this:
"Our challenge is not only to keep up with rapidly unfolding events around the world, but to keep our perspective fresh and differentiated from that of our competitors. As securities analysts we are truth seekers and problem solvers. We must satisfy ourselves with determining ranges of outcomes and potential scenarios rather than searching for, and ultimately fabricating, absolute truths. The only thing we are 100% confident in is that we are fallible, we don't have all the answers, and we will make some mistakes. However, if we are honest with ourselves and our colleagues, remain attentive to our own biases and deceptions, focus on process, attempt to understand why we erred, and engage in deliberate practice and self-observation to improve our decision-making ability, we will not only minimize our errors, but also ultimately become better people and better investors."
Link to: Dan Loeb's Q3 Letter
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