Most Investors Never Learn This Lesson

I do not want to own assets that are always in favor because if they're always in favor, that means they're popular. If they're popular, that means they're crowded. If they're crowded, that means the return has been armed away.I like the fact that the things I own go through these periods where people don't like them. And so, I actually want things that go in and out of favor because that means that the things that are out of favor likely have a lot more asymmetry to them. They have a lot more potential ret ...