Capital Allocation

Pram has been wrong on a lot of his investing bets, he's famously predicted the market crash and buying all these deflection puts. So it is clear that he's taken too many macrobets. His strength has been investing in businesses, but not taking microbets. What you're getting for nothing more than paying book valui. I can just stand up here and say, he, he's ultima the ultimate capital licater. He's not. But despite that rid if you look at the long ark and say, i will give him some leash, because he's the kind of person who corrects riry, makes a mistake and corrects overtime.

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