Greed + Confirmation Bias = Disaster

It’s a natural human tendency to seek out conforming opinions – people who agree with us. It makes us feel “right” and good about our decisions. In the investing world, however, this is dangerous. When I form an investment thesis, I’m always trying to figure out why it’s WRONG, not why it’s RIGHT. I want to know the thesis of the guy on the other side of the trade as me – and then I can evaluate whose thesis is stronger.

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