Charlie Munger: Destroy Your Old Ideas Don’t Compound Them

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Rupert Hargreaves
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Anchoring is a cognitive bias where an individual relies too heavily on an initial piece of information. Investors are particularly susceptible to this cognitive bias because there are so many different data points that can act as an anchor when making decisions about a company or stock. Q4 hedge fund letters, conference, scoops etc For example, it is easy to become anchored on a recent high point for a stock's value with market participants pinning their estimate of intrinsic value on the original stock price rather than underlying fundamentals. Charlie Munger believes the worst anchoring effect is always your previous...

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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk