Lessons learned from a stock picking contest and the importance of recognizing fear

The chapter discusses the experience of running a stock picking contest and the lack of a strong equity market culture in Canada compared to the US. The speakers share anecdotes about their own experience of picking stocks and the lessons they learned, including a risky investment in Morgan Stanley during the 2008 financial crisis. They emphasize the importance of recognizing the fear and distorted values in truly scary moments.

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