<What percentage of your available funds is already invested on the long side?>
I make a habit of disclosing my position, because I know it influences my thinking. Everyone has biases, and it's a good idea to honestly state them. I encourage everyone to state their positions.
And I mean in real-time. I'm very sceptical when people post, "I bought AAPL at $2, years ago", unless they posted it at the time. It is a proven fact, which the behavioral economists have shown, that people consistently exaggerate, or even invent, past successes, and do the opposite for failures. Everyone, me included, has a tendency to do that. |
