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Waiting for the Great Depression, A Readymade Moat, and More... - Views on News from Equitymaster

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The Equitymaster Research Digest

Waiting for the Great Depression, A Readymade Moat, and More...
Feb 17, 2016

A recent Bloomberg headline read, 'Goldman Sachs Abandons Five of Six "Top Trade" Calls for 2016'.

Abandoning calls on the dollar, euro, yen, emerging markets, and inflation just 47 days into the year couldn't have been easy. Most of us remember Goldman Sachs for its CEO's claim to be doing 'God's work' in 2009. Even so, the Wall Street star has failed to defend its calls amid the unforeseen volatility since the start of 2016.

The problem with such short-term calls is that one tends to lose patience and become aggressive at the wrong time. Usually for the wrong reasons.

Ironically, even investors who are otherwise comfortable with the idea of long-term investing tend to get jittery during volatile times. That's why we feel the need to reinforce the practice of acting on the best investments at the right time, for the right reasons.

We often rely on the wisdom of the Oracle of Omaha and his partner Charlie Munger to do this.

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