Below are excerpts from a speech Bob Rodriguez of First Pacific Advisors gave in May 2009. Quite a few interesting lessons derived from his previous trials and tribulations in dealing with clients and redemptions during periods of contrarian actions and underperformance. Psychology “I believe I have found success because I have been deeply aware of [...]
Investing is full of paradoxes. For example, in this zero-sum game, everyday we walk a fine line between arrogance (conviction that we are right) and humility (possibility that we may be wrong). We’ve written in the past about the importance of self-awareness. Self-aware of our mental weakness(es). Self-aware of our (perceived) strengths. Self-aware of how [...]