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Podcast: My Worst Investment Ever Podcast
Episode: Gary Mishuris – Qualitative Judgment Is More Valuable Than Your Financial Model
Description: BIO: Gary Mishuris is the Managing Partner and Chief Investment Officer of Silver Ring Value Partners, an investment firm with a concentrated long-term intrinsic value strategy.STORY: Gary was developing a financial model that he used to recommend stocks for his company. He got so engrossed in the model that he forgot about other important aspects of investing, like the effects of a merger that had just happened in the company. He made mistakes, and the stock he recommended fell by 80%, losing money for his company.LEARNING: Think about the qualitative aspects. Don’t depend on...