Відео

2014, back when Guy interrupted a lot lol

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Although I'm an absolute investor, I do like to compare my performance to indices for fun. Rather than try to "beat the market" on the upside, I'm more focused on saving myself from the downside. The market is up 1% and I'm only up 0.50% or 0.75%? No problem. The market is down 1% and I'm only down 0.5% or 0.75%? Ahh, excellent! That's the goal. No bad days, right? 😉

Holy cow! That intro blew my mind! 😀

I kind of disagree with Howard Marks here. There's plenty that I don't get into, regardless of price. Pharmaceuticals is a great example for me. I don't know what it takes to make a successful drug from the scientific perspective and I certainly don't understand all the regulations. If something like Bayer, Moderna, etc crashes like a vase then I'm just going to stand out of the way to make sure the shards from the vase and the goop inside of it don't hit me. In this case, I would fall into the "I don't do that" camp. That doesn't mean "I only do this" regardless of price. It's OK to do nothing and let cash pile up. Currently, short term T-Bills give over 5% yield. Money market funds and CDs are a smidge behind right at 5%. Plenty of preferred stock to choose from as well as beaten down REITs. So, there's always something we can do ... the big question is should we? Should we tinker here? I understand I'm probably going out further and farther than what Howard Marks meant but it's an interesting thought experiment. 🙂

Blotting out bad memories - oof! I must be an outlier. My bad memories are seared into my memory and act as guardrails. No way do I want to "go back there" so I make sure my decisions don't take me "back there". Getting whacked once was plenty enough! 😳 😉

So, avoid failure by managing and mitigating risk ... and success takes care of itself.

I love the opening line, "It's a mindset, not an algorithm." !! I always appreciate Howard Marks' wisdom. He is like a hyper-rational machine that can operate in all terrains under all conditions.

So, to paraphrase Napoleon a bit, keep your head while everyone else is losing theirs and you should be OK. Lose your head along with everyone else, and you'll find yourself in trouble.

I also noticed the cycling shoes! That is true mark of living life on your own terms. Love it! I wish we could have seen Mohnish's bike! 🚲 A pleasant conversation on investing philosophy for sure! I appreciate his thoughtfulness and for finding a credo that works for him. We all should develop a credo that lines up with our own values and meshes with our personality. Mohnish has created a space that works for him. It's a little too busy looking for me. I need a lot of empty and open space. Give me a big desk, with a massive computer monitor, a handful of wooden pencils, and a stack of scratch paper. Give me a bookshelf filled with thoughtful authors and two typewriters - my IBM Selectric and my Olympia SM-8.

What is his networth

Another thought provoking and thoughtful episode 👍

Promo_SM 🤣

Mohnish looks much better clean-shaven

Interesting his convo on Silicon Valley Bank

Lovely

Loved it, wealth of information

You are both great!

Where is your office ?

Perhaps a more interesting paper could be :The Whiffs of Warren Buffett" detailing stock buys & businesses that didn't work out. Rational reasons, then why as best could be reconstructed why they didn't work out.

32:00 this aged well

Berkshire’s advantage is rational thinking. Those who think in terms of stereotypes will call the advantage “insider information” or “luck”.

Thank you for the insightful discussion 🙏

"It's over" famous last words from investors back in '01 lol

I think crypto is dead if this is true

Keep up the awesome work!!! Crush your competition with 'PromoSM'.

Love from Bihar,India 💛

Thanks for sharing Howard Marks insight. Latest memo was very interesting 👌

that was a dr dre song you racialist fyck

“A limited supply of nothing.” An entire industry built on fraud and stupidity. Anyone who is surprised by this hasn’t been thinking rationally.

excellent discussion

Good discussion guys.

Mohnish was right on Amazon

Mohnish is more lucky then intelligent and a cloner

5th watch !

The Chipotle thesis is I think fundamentally wrong. It was clearly impossible to see the global trajectory of a restaurant(!) starting on 3 US states. Could have been any other mexican restaurant chain. You just cannot with certainty pick that kind of a no-moat franchise ex ante at an early stage. Different to smaller niche markets where you are actually leading. Silicon Valley Bank is the better example.

I can keep watching this clip forever. True legends!

Amazing video

Thanks for posting

I really enjoyed this discussion.

👍The apes will learn from experience since they don’t listen to your wise words.

Buy the dips if the company can recover, not if it’s going to fail. Why not buy the index instead? It’s less effort, less time consuming and less stressful.

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What good his foundation is doing by getting people to few iit colleges which are so few , can't see best value

Two fraudulent scumbag losers.

Great dialogue. I would point out that an absolute necessity for a Good society of any size is TRUST. And lying is destructive to that necessity. And this is why todays society is in existential trouble and is doomed unless it gets itself on a truthful path.