What was the point that I missed?
And the more opportunities you get with the ball, the more opportunities there are to fumble it.
If you go "oh shucks i fumbled some %" that will excuse anything and everything.
If you give me a list of the times you fumbled and they're all the most amazing opportunities ever, what that tells me is that you're taking the obviously good opportunities, and missing the counter-intuitively amazing opportunities.
VCs brand themselves as finding the next growth monsters. It's fine if they want to "find companies that you can reliably value and are undervalued by the market" (which is what Buffet does), but then don't market yourself as a VC.
“Actually, owning Paramount made me think even deeper, but I certainly looked harder about the whole question of what people do with their leisure time and what the governing principles are of running an entertainment business of any sort, whether it’s sports or movies or whatever it might be,” Buffett said. “I think I’m smarter now than I was a couple years ago, but I also think I’m poorer because I acquired the knowledge in the manner I did.” ← great quote
Source: https://www.hollywoodreporter.com/business/business-news/war...
They’re no longer in business.
Furthermore, you might make money but less than you could at no risk.
Your criterion of being in business is awful. It sounds like it was the first thing that popped into your mind and you entertained it for about a second before typing it down.
Or, I suppose, you could commit fraud. I’m assuming we’re talking about regular vc companies and not criminals.
Yes, the truth is more complex than a single sentence can convey. I hope in time you can forgive my crime of brevity.
me "what's your criterion for being good at investing?"
you "you're good when you do well"
If you're so brief that you end up saying nothing at all, just skip the typing instead.
On reflection, the long version of my comment is something like this: “The market is the best judge of VC funds. Good choices mean good returns. Bad choices mean VC funds go out of business. And BMF had been profitable for 113 years. Make of that what you will.”
In retrospect, perhaps I could have said that.
> …, just skip the typing instead.
Similarly, lay off on policing my words so heavily. It’s rude. You are a single voice, and while your opinion is interesting, how I phrase things simply isn’t up to you. Especially when you do so from an anonymous burner account, “lkdfjlkdfjlg”.
If you don’t like my tone, perhaps consider following your own advice. Skip all the typing and just downvote my comments.