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jerryking : unanimity   3

You must do these two difficult things to invest as patiently as the greats - The Globe and Mail
TOM BRADLEY
Special to The Globe and Mail
Published Sunday, Jan. 15, 2017

Great investors have differences, but they share a number of key attributes.

They have an independent view. They feel no obligation to invest in something because others are doing it or because it’s a part of an index. Indeed, they prefer when a stock isn’t popular or heavily traded.

They buy when opportunities present themselves, not when the money is available. Cash doesn’t burn a hole in their pocket.

They buy assets that, in their reasoned opinion, will eventually be worth considerably more than they’re able to purchase them for. The key word being eventually. Their time frame is only slightly shorter than that.

They don’t get hung up on short-term events, although they do monitor them closely so they can take advantage of opportunities. Price movements and/or liquidity events may allow them to buy more or sell, and any new information can be used to update their valuation models.

You get the picture. Patient capital is focused on long-term value creation. It’s comfortable being out-of-sync with popular trends. And it doesn’t get distressed by market dislocations, it gets excited.

If working with a financial adviser, they have to understand and believe in the patient-capital approach. No prattling from them about quick stock or ETF flips. No recommendations of "hot" fund managers nor cold feet when short-term results are poor.

You want advisers and money managers who can live up to the traits listed above and, ideally, who are working in organizations that exemplify the same traits. You and your adviser have a better chance of being “patient capital” if the firm’s sales, marketing, product development and investment strategies are aligned.
Tom_Bradley  investors  long-term  strategic_patience  liquidity_events  personality_types/traits  dislocations  undervalued  opportunistic  unanimity  personal_finance  financial_advisors  contrarians  independent_viewpoints  financial_pornography  best_of 
january 2017 by jerryking
For one U.S. CEO, China’s rise should not be feared but exploited - The Globe and Mail
Jan. 21, 2011 | Globe and Mail | by CHRYSTIA FREELAND.

The China challenge, in Mr. Immelt's view, is about much more than a manipulated exchange rate and "cheap labour." "It is the adaptability, it is the speed with which they move, it is the unanimity of purpose, it is the productivity of thought," he said, adding that when he visits his interlocutors at the Ministry of Railways in Beijing, the mandarins are at work on Sunday....Mr. Immelt thinks he knows what America needs to do to thrive in this changed world. "If you want to be a great country, which the U.S. has every right to want to be, you have got to be thinking about being a better exporter," he said. "Our only destiny can be as a high-tech exporter, that creates jobs, high-paying jobs … Export-led growth is the key to national success."
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See Tom Friedman's reference to "This is a world in which education, innovation and talent will be rewarded more than ever. This is a world in which there will be no more “developed” and “developing countries,” but only HIEs (high-imagination-enabling countries) and LIEs (low-imagination-enabling countries)."
Chrystia_Freeland  China_rising  GE  Jeffrey_Immelt  China  Hu_Jintao  exporting  adaptability  speed  unanimity  mission-driven  purpose 
january 2011 by jerryking

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