Farnam Street Q1: Lobsters, Buddhism, and Warren Buffett

Farnam Street Q1 letter to investors
Investment Management Software Spending Soars

 

Important Update We’ve learned a few things after studying successful investors and capital allocators for more than a decade. One fact unsinkable reemerges: investment committees rarely work. Groups of humans generally make sub optimal decisions together. There are instances where “the wisdom of the crowd” holds, but group think is the most likely . . .

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