SEAWORLD WORST CASE, NOT SO BAD
March 20, 2016 Process, Security Analysis
Investors like to talk about what’s working in the portfolio. It feels good to talk about investments which have played out as expected. And clients like to hear about how much money they have made in these “good” investments.
As a result, many investors focus on their winners. Such a focus allows investors to pat themselves on the back. Winners also provide clients with confidence.
A pat on the back feels good. Losing money does not. Hence, we seek positive reinforcement – more back patting – and fewer of those difficult conversations.
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