Valuations are high and the bull market since March 09 is extended. No doubt there. However, various sentiment and breadth signals suggest the decline is over. There are decent odds (not certainty) the trend will be bull dominated. We expect better returns 6M to 1Y from now.

Lack of price discipline leads to no excess return… but only in hindsight. Sometimes it takes years to see that what originally looked like a great outcome, was actually a bad process. In that chart $ASML was outperforming… until it wasn’t. Picking quality businesses that.

No. 😂.

RT @TihoBrkan: Stock pickers understand that the task is to find mispriced securities. However, there is a misunderstanding and lack of co….

RT @TihoBrkan: Michael Mauboussin has argued that cultivating an investing process is built on four pillars:. 1. Understanding probabilitie….

So many FICO write-ups and deep dives banging the table on how $FICO is a monopoly… but it turns out it isn’t. “It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.” — Mark Twain.

RT @TihoBrkan: Every great investor I've studied had the following four attributes:. 1. Great analytical abilities.2. Equinimous temprement….

Every great investor I've studied had the following four attributes:. 1. Great analytical abilities.2. Equinimous temprement.3. Sound framework/process.4. Obsessive lifelong learning.

Michael Mauboussin has argued that cultivating an investing process is built on four pillars:. 1. Understanding probabilities.2. Managing biases.3. Keeping a decision-making journal.4. Using checklists. While the 4th is the most common amongst investors, almost no one keeps a.

RT @safalniveshak: Nothing expands your imaginary circle of confidence like a bull market. Until the bear arrives… and shrinks it back to r….

You make a great point, but the point makes sense in theory only. It doesn't hold true when you analyse base rates (prevalence or occurrences). Why?. It is almost impossible to find stocks that will go to zero, irrespective of how poorly the underlying businesses are managed.

For you to have a positive alpha, someone else has to have a negative alpha of the same amount. That is because alpha for the market must equal zero, also known as a zero-sum game. So, ask yourself why you think you're better than the market and all other competitors?.

The investing field attracts the most intelligent people with a strong work ethic. These people are applying the latest technologies and utilising vast amounts of data to aid their decision-making. Additionally, they are continuously incorporating broad ideas from the latest.

There is no right or wrong answer. However, after several decades on this planet, here is some wisdom I’ve gained (only a few to start you on your brainstorming journey). My answer are my own, and might not align with your views:. • Money is very important, but only if you don’t.

Figure out your own rules for a good life and live them. But, what is a "good life", though?. Since ancient times, people have been asking themselves what it means to live a "good life". How should I live?.What constitutes a good life?.What's the role of fate and luck?.What's.

RT @TihoBrkan: Luxury companies enjoyed tremendous growth over the last two decades by alleviating simple psychological and social “pain po….

"To achieve superior investment results, your insight into value has to be superior, thus you must:. 1. Learn things others don’t (informational edge or information asymmetry). 2. See things differently, or do a better job of analysing them (analytical edge)” . — Howard Marks.