Author Topic: 'Why Your Mentors Seem Less Impressive Over Time'  (Read 3967 times)

Viking

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Re: 'Why Your Mentors Seem Less Impressive Over Time'
« Reply #20 on: November 27, 2018, 03:51:09 PM »
Liberty, i enjoyed your article. Thanks for posting.

My personal experience is much more dynamic that what you suggest (with a slow start the first 5 years and lots of zigs and zags, regressions and spikes). Fortunately i learned about Buffett when i was in my 20ís. However, at the time i had little cash, little time and little understanding of investing. The investing books i really liked back then were One Up On Wall Street, The Warren Buffet Way, the Intelligent Investor and A Random Walk Down Wall Street. I took bits and pieces from each author and slowly developed my investment process. I then found this board (2002 or 2003?) and my style was influenced by Prem. For the next 7 years i made a chunk of money trading Fairfax and the subs. Post 2008 and with FFH delisted from NYSE the volitility trade ended. By now i was semi retired and i started rereading all the classics again and began to rethink my investment process. I found the old titles to be just as valuable; however, i took away different bits and pieces. I felt i was pretty good at buying but not as good at selling (often way too soon). Over the last 6 years Apple, being in US$ and the big US banks have each been great investments. I am now rereading the investment classics again (to help at the high school literacy club i am running) and i am finding them very valuable at reinforcing very important ideas (and i find i sometimes drift a little and need to be reminded of some important topics). My situation today is very different from when i started: a big portfolio, time and a pretty good understanding of investing. Capital preservation is much more important for me. I find my mentors to be just as valuable and relevant today as when i first read them. Yes, some have faded in importance (Prem) but that is more a function of fit: his stlye is not a fit for my current life situation (not that his stlye will not work). As your life changes what you need from your mentors will also change.
« Last Edit: November 27, 2018, 03:55:26 PM by Viking »