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3min chapter
TIP547: The Truth About Stock Market Forecasts
We Study Billionaires - The Investor’s Podcast Network
The Importance of Opportunity Costs
Many investors fall into the trap of needing to do something, and to take action. They chase after what Munger would call mediocre opportunities. Godum does the mental exercise of liquidating his portfolio in his mind each day. He asks himself a simple question: Would I buy it at the current price? It's important that we don't fall in love with our most loved ideas because we've put a lot of time and energy towards them.
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