Q1 2022 hedge fund letters, conferences and more
In their recent episode of the VALUE: After Hours Podcast, Cassel, Taylor, and Carlisle discussed The Market Loves To Destroy Hubris. Here’s an excerpt from the episode:
Ian: I find with investing especially, I think, we talked about before we came on live. I think this industry and finance and FinTwit, especially, people in finance really relish seen others do poorly. The peanut gallery is vicious. I think it makes sense, because our scoreboard is always front and center maybe, if not publicly in our own minds and it’s especially– [crosstalk]
Tobias: And it’s all relative. You can be doing very well. You could be knocking at 15% a year, which makes you a superstar for a long enough period of time. But if the NASDAQ is doing 17%, what’s wrong with you, baby?
Jake: Lately, don’t [crosstalk] lately, too.
Ian: Yeah.
Tobias: There are certain investors who are like, those indexes personified. So, yeah. Sorry, I didn’t mean to cut you off. Keep going.
Ian: No, no, no, it’s fine. I think it’s also proof that the market loves to destroy hubris in all its forms, and people like to follow hubris in a way up, and then they like to sell it on the way down. I know, it’s our human nature to and we’re all doing well we want to be loud about it. When we’re all doing poorly, you want to go into a rock–
Tobias: Hard. Yeah.
Ian: Yeah. And I think history is proven whatever the case may be, it’s better to be quieter rather than louder.
Tobias: You don’t want to call down the thunder? Summon a lightning bolt?
Ian: [laughs]
You can find out more about the VALUE: After Hours Podcast here – VALUE: After Hours Podcast. You can also listen to the podcast on your favorite podcast platforms here:
Apple Podcasts
Breaker
PodBean
Overcast
Youtube
Pocket Casts
RadioPublic
Anchor
Spotify
Stitcher
Google Podcasts
For all the latest news and podcasts, join our free newsletter here.
Article by The Acquirer’s Multiple.
