Money and Finance
- Learning From Mistakes...
From Tren Griffin in his book Charlie Munger: The Complete Investor: Buffett has said that if you cannot explain why you failed after you have made a mistake, the business was too complex for you. In other words, Munger and Buffett like to understand...
- The Absolute Return Letter - May 2012
Investors often behave as if they operate in a world of logic and certainty even when that is not the case. For that reason, history is littered with investors who have failed miserably. In this month's Absolute Return Letter we look at many of the...
- A Few Lessons For Investors And Managers - By Peter Bevelin
As Warren Buffett mentioned in his Letter to Shareholders, Peter Bevelin has put together a new book explaining Berkshire’s investment and operating principles. I’ve interview Peter twice on this blog (HERE and HERE) and those interviews are probably...
- The Absolute Return Letter - December 2010: The Dirty Dozen
In the world of finance, risk is essentially the probability of an investment’s actual return being different from the expected return. As most of us are not overly concerned about actual returns being higher than expected, it is fair to say that in...
- Make The Most Of Your Investing Mistakes
Like most people, I don't like being wrong. Trouble is, I'm wrong quite often. To err is human, after all, and I've come to accept the fact that I'll make incorrect choices in the course of everyday life, such as the time I was about...
Money and Finance
The Absolute Return Letter - April 2011: Confessions of an Investor
I have been thinking a great deal about risk over the past couple of years. The depth of the financial crisis took many of us by surprise. I made mistakes. I am sure you made mistakes. In fact, the whole industry made mistakes, from which we should all learn. Whether we will is another story, but we should try.
Making those mistakes is all the more frustrating because I was aware of the dangers but, like most others, underestimated the magnitude. In fact I wrote about them – see for example the October 2007 Absolute Return Letter (Wagging the Fat Tail).
Now, let’s distinguish between trivial risk (say, the risk of the stock market going down 5% tomorrow) and real risk - the sort of risk that can wipe you out.
- Learning From Mistakes...
From Tren Griffin in his book Charlie Munger: The Complete Investor: Buffett has said that if you cannot explain why you failed after you have made a mistake, the business was too complex for you. In other words, Munger and Buffett like to understand...
- The Absolute Return Letter - May 2012
Investors often behave as if they operate in a world of logic and certainty even when that is not the case. For that reason, history is littered with investors who have failed miserably. In this month's Absolute Return Letter we look at many of the...
- A Few Lessons For Investors And Managers - By Peter Bevelin
As Warren Buffett mentioned in his Letter to Shareholders, Peter Bevelin has put together a new book explaining Berkshire’s investment and operating principles. I’ve interview Peter twice on this blog (HERE and HERE) and those interviews are probably...
- The Absolute Return Letter - December 2010: The Dirty Dozen
In the world of finance, risk is essentially the probability of an investment’s actual return being different from the expected return. As most of us are not overly concerned about actual returns being higher than expected, it is fair to say that in...
- Make The Most Of Your Investing Mistakes
Like most people, I don't like being wrong. Trouble is, I'm wrong quite often. To err is human, after all, and I've come to accept the fact that I'll make incorrect choices in the course of everyday life, such as the time I was about...