I was thinking about the way to replicate my ‘live’ psyche so that over a longer term rather than just documenting output of the ‘’Action’’, I will get opportunity to document how did I ‘’reach’’ to the point which caused me to take that action. For example - in my investing journey I have observed that my change in opinion from High Conviction to a loss of conviction is gradual than sudden. Therefore rather than documenting the reason for ‘Sell’ which is the end output of the journey from High Conviction to losing all the conviction, it will be better to document the ‘’journey’’ itself ( No , I am not drunk ). This becomes even more important with my investing framework of having minimal to zero churn which focusses on sitting ‘tight’ through the periods of short term loss of business momentum or buying ‘right’ by not succumbing to FOMO. The judgement on gauging short term business momentum or identifying what is ‘right’ is very personal and depends on lot of other factors which needs separate discussion
Introducing two new scales which attempt to highlight this journey of change in conviction and degree of FOMO. The idea is to document the ‘’change’’ in conviction levels and FOMO whenever it happens and the trigger for the same.
Portfolio update and Q1FY 23 report card will be published along with above scales for each and every holding in the portfolio
Thank you
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