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100+ Great Investors Share Their Most Important Investing Lesson

Excess Returns

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Understanding the Importance of Perspective in Investing

This chapter emphasizes the need to consider the perspective of the person funding the investment and why it makes sense for them to provide the desired return. It discusses the common mistake of forgetting this aspect and how it leads to speculation rather than true investment. The chapter highlights the importance of considering the perspective of the other party in investing and advocates for a systematic, rules-based approach.

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