“Ahead of Expectations” - three of the most powerful words in investing
Successful investing isn’t about being right — it’s about being right at the right time. History is littered with examples of investors who were right, but at the wrong time. As the saying goes, "The market can stay irrational longer than you can stay solvent”. One recent story typifies this issue. Ted Aronson was running $10bn in an underperforming US value investing fund from 2011 to 2020. “Our record for the last five years sucks” he said as his investors gave up on him and he closed up shop. Читать дальше...