Mohnish Pabrai on the ability to say no

There are two primary advantages individual investors have compared to institutional asset managers. These are the ability to take a longer-term perspective and the capacity to say no. Q3 2020 hedge fund letters, conferences and more Institutional investors can get caught up in the performance race, which may lead them to make bad investment decisions based on a few quarters of under or over performance. On the other hand, individual investors don’t have to worry about the potential penalties associated with a year or two of underperformance. All that matters are their personal investment goals. The same goes when picking…