Whitney Tilson Quotes Page 3 - BrainyQuote

American - Businessman Born: 1966

There is a natural tendency for investors to devote a significant majority of their time to finding new ideas. After all, uncovering great companies selling at great prices is the lifeblood of successful investing. But in the never-ending quest for the next great idea, investors often give short shrift to their existing investments.

Time Great Ideas Short

While everyone would love to have that perfect portfolio of stocks that can be bought and held forever, it usually does not work out that way. Markets, technology, and businesses change too quickly to put portfolios on autopilot.

Love Work Change Technology

When reviewing one's portfolio, it is important to be aware of common mental mistakes that may lead to bad decisions. The most powerful is commitment bias, which, as manifested in investing, is the tendency to fall in love with one's stocks.

Love Mistakes Fall Commitment

Assessing management quality is clearly one of the most important aspects of an investment decision.

Decision Quality Management Important

To a large extent, equity investors put their hard-earned capital into the hands of management and count on it being employed skilfully and honestly. When that doesn't happen, losses typically follow.

Hands Management Follow Being

One can't be a successful investor without a healthy dose of confidence. To commit your own and others' hard-earned capital requires conviction, and conviction requires confidence. But as with fine brandy or coffee ice cream, too much of a good thing can be problematic.

Good Coffee Confidence Ice Cream

The consequences of overestimating a company and your ability to analyse it are greatly diminished when you're paying a lot less for it than your analysis shows it is worth.

You Worth Your Company

It's critical to have a disciplined investing approach and stick with it.

Approach Stick Critical Investing

As in most subjects relating to money management, there's a wide diversity of opinion on portfolio concentration versus diversification.

Money Diversity Management Opinion

Without doubt, timely and democratic access to financial and market information contributes to smoothly functioning financial markets.

Information Doubt Without Financial

Dealing with uncertainty is always a key challenge for investors. But dealing with uncertainty doesn't mean avoiding it - on the contrary, it is often fuzziness about a company's future that creates the type of opportunity bargain-hunting investors cherish.

Future Opportunity Challenge Always

Wall Street, in the main, hates uncertainty, which manifests itself in depressed share prices of companies whose prospects lack 'visibility.' But where the market can err is in confusing uncertainty with risk.

Street Uncertainty Risk Share

Just because a company's future is highly uncertain doesn't mean an investment in it is risky. In fact, some of the best potential investments are highly uncertain but have little risk of permanent capital loss.

Best Future Loss Company

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