What amazing clarity! Very well put Sahil. This one is even more enaborate than the Twitter post you have written in this regard. Process is everything. As a new investor (Direct stocks, 15 years been in MF) who is making so many mistakes, this is like a gem for me. This feels like a spider web to me. You build it & wait for a pray to get caught. which is exactly what I want to build. But it’s extremely tough. I am a culprit of trying to find short cuts. But slowly understanding that short cuts are sureshot ways to underperform. My question is when you say that valuation comes after one has understood the business, what’s your screening criteria? I mean how do you stumble onto these businesses having catalysts? Is it pure serendipity (like from your network)? Or you also have some sort of process that alerts you when something interesting comes up? Or may be some screener query that fetches you this? Or something else? Or a combination of all?
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