By Lewis Johnson - CHIEF CONCLUSION Since my first day at Wharton, in August of 1998, my sole focus has been to learn the craft of investing. This focus taught me that discipline is often the most important thing that[…]
By Lewis Johnson - CHIEF CONCLUSION The biggest mistake we see investors make in the markets, repeatedly, is to assume that tomorrow will look like today. Our experience investing over nearly twenty years and trading[…]
By Lewis Johnson - CHIEF CONCLUSION In today’s research, we outline our view that diversification should not end with the simple ownership of many holdings within a portfolio. Rather, it should go further still to[…]
By Lewis Johnson - CHIEF CONCLUSION We believe that superior risk management is the key to successful value investing. Why? To us, investing is not about having a crystal ball to see the future, because successful[…]
By Lewis Johnson - CHIEF CONCLUSION The failure of the 2004 Olympic basketball team suggests that victory is not guaranteed by throwing together a random assortment of even the most talented individual superstar[…]
