Date of publication: 2017-08-26 21:14
The book takes the reader on a journey through Sam's positive and not-so positive investments. It serves as a useful guide to successful investing. Sam Zell comes across as a highly likeable, open-minded, hard working and opportunistic investor who searches beyond conventional wisdom for ideas.
Bill Ackman: “One of the best ways to get confidence in an idea is to find a smart person who has the opposing view and listen to all their arguments. If they have a case that you haven’t considered, then you should get out. But they can also help give you more conviction”
“I have previously written that I strive to discover the proverbial dollar bill selling for 55 cents , preferably with enough volatility such that I have the opportunity to buy at 95 cents or less” Michael Burry
Who changed America more? What should good citizens do? In Wallace H. Coulter Unity Square, take part in several hands-on activities that inspire active engagement in American civic life. Daily.
George Soros: “The financial markets generally are unpredictable. So that one has to have different scenarios ... The idea that you can actually predict what's going to happen contradicts my way of looking at the market."
“When directly compared or weighted against each other, losses look larger than gains. This asymmetry between the power of positive and negative expectations or experiences has an evolutionary history. Organisms that treat threats as more urgent than opportunities have a better chance to survive and reproduce” Daniel Kahneman
It's impossible for an investor to know everything there is to know about a company, industry or situation. Investors are dealing with incomplete information and changing circumstances.
Depending on student content vocabulary readiness the teacher may need to review vocabulary used in Federalist 65. A teacher resource has been created using the Federalist 65 summary to review vocabulary using a word wall. The teacher will tell students that the class will be adding several words to the word wall today. Word walls are a literacy strategy that may be used before reading (explicit teaching and modeling, during reading (guided practice) and after reading (guided practice).
"I learned that there is nothing to fear from truth. While some truths can be scary—for example, finding out that you have a deadly disease—knowing them allows us to deal with them better. Being truthful, and letting others be completely truthful, allows me and others to fully explore our thoughts and exposes us to the feedback that is essential for our learning."
CIA: " Analysts are often reluctant, on their own initiative, to devote time to studying things they do not believe will happen. This usually does not further an analyst’s career, although it can ruin a career when the unexpected does happen."
It's important to consider if the product is unique. If a product has no differentiating features or is a commodity then the only competitive advantage is to be the lowest cost producer.