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Feeling the Wind

Feeling the Wind

Markets behave like nature. Like winds, they blow from all directions, almost randomly. They can feel good at times, but can also give chills that are outright miserable. Successful investors...
Investor Letter Q3 2020

Investor Letter Q3 2020

Emotional responses and the accompanying extreme pessimism and optimism generate market swings, creating opportunities for those who are process and evidence driven.
Investor Letter Q2 2021

Investor Letter Q2 2021

Blow ups, frauds, and Ponzi schemes: Who can say no to investors shoving money in their face?
Investor Letter Q4 2021

Investor Letter Q4 2021

How can one be confident of a favourable outcome in the face of ongoing events that create volatility and trigger uncertainty?
Investor Letter Q4 2019

Investor Letter Q4 2019

Humans derive more pain from a loss than happiness from a similar gain. The most important part is to assess your pain threshold accurately, and find a way to help...
Investor Letter Q4 2018

Investor Letter Q4 2018

Investing is like making good wine, time is one of the essential ingredients. It will reward investors if they have the patience