years ago, one of my oldest friends, let's call him "daniel" (himself incidentally the son of a legendary investor), was consoling me.
for what you may ask?
another friend had excluded me from some event. i was in my 20's and such things felt mortally significant.
with perspective, i now know that the negative feelings that arise from being excluded is fairly universal among humans of any age and of most cultures. in the worst cases, it causes otherwise smart people to do horrific things. these days in the generally overvalued prvt tech markets its characterized by the acronym FOMO.
in any case, "daniel" said to me: "why do you give a shit what he thinks?"
that turns out to be the best investing advice i ever got.
the desire for acceptance is a wonderful human trait but it is one investors should reflect on. how long can we go without it and for what reasons would we pursue it?
a chip on the shoulder isn't a bad thing unless it weighs you and your portfolio down.
-- END --
- Long Cast Advisers
- Avram Fisher, Founder & Portfolio Manager of Long Cast Advisers, is a former equity analyst at CSFB and BMO covering industrials and business services. He has prior experience in private equity; as a corporate governance analyst; as a writer; reporter and private investigator; and as a lifeguard and busboy (I still clear plates when my kids don't). This blog is an open book of ideas about patient investing and about starting up a small-cap focused RIA. It is part decision-diary, part investment observations and part general musings. Nothing on this blog is a solicitation for business nor a recommendation to buy or sell securities. It is simply a way to organize and share thoughts with an expanding audience of independent, patient and talented small cap investors. www.longcastadvisers.com