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TIP546: The Holy Grail of Long-Term Value Investing
We Study Billionaires - The Investor’s Podcast Network
The Importance of a Sound Investment Process
We should seek above average returns over a long period of time with the lowest possible risk. In order to achieve this, we must develop a sound investment process that we can stick to through thick and thin. The best long term performers in any probabilistic field always emphasize process over outcome. Poetic justice is served when a bad process is accompanied by an unfavorable outcome. To sustain high returns, it requires more than luck; skill becomes the dominant factor.
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