Ep. 31: Navneet Munot on India’s Amrit Kaal, Role of Luck, Building Resilience, and the Power of Kindness
The One Percent Show with Vishal Khandelwal
Long-Term Orientation and Purpose in Fund Managers
Over a 10-year period, fund managers in the bottom two quartiles have a 90% chance of being in that position for two or three years, while those in the bottom quartile have a 60-70% probability of staying there in the same timeframe. The best fund managers also have a 47% chance of being in the bottom decile in two or three different years. Long-term orientation is crucial for success, along with a deep sense of purpose and trusteeship when managing others' money. Talent, investing framework, and processes are essential, but lacking integrity can undermine intelligence and energy, as integrity is key according to Buffett.
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