1min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

RWH016: The Best Of The Best w/ François Rochon

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

The Fundamental Insight of the Stock Market

I think humility is kind of the catalyst to help you become a better investor because you always want to learn more and understand more. There's a very fundamental insight at the heart of your approach to investing which comes up again and again in your letters to shareholders. The stock market always reflects the fair value of companies over the long term. It seems to me an absolutely foundational insight that most investors who are treating the market as a casino simply don't understand. Once you understand it it's a little bit like understanding the laws of physics.

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