Stuff That Interests Me

I remember having lunch once upon a time with a fun manager of the old-school, refined Englishman variety. He rather took me aback towards the end of the meal when he started talking about this company his fund had put money into…You need faith – but you need to back that faith with something real Previously so understated, my fund manager acquaintance became wildly enthusiastic about this company, speaking with surprising zeal - and passionate volume - about cash flow and profit margins. I almost wondered if it was the same chap.“He’s fallen too much in love,” I thought. “He’s never going to be able to sell.”Then I took stock. “This is one of the most successful fund managers in the business,” I thought. “If I compare my investment success to his, well, he is clearly a lot better at it than I am. But … he’s in love with this company to the point of being delusional.”It was then that I had a bit of a lightbulb