To improve our skills at making buy or sell decisions we are spending a lot of time and effort reviewing failures: "post mortems". They teach us to be aware of our biases and to be humble when it comes to understanding risks
- to be good at value investing you have to have a personality which openly admits mistakes and enjoys learning from them. This implies putting "truth" above ego.
When screening applications or interviewing candidates we look for personalities which have made self-criticism and humbleness an integral part of their personality
- you should enjoy these traits as they allow you to learn faster and develop a reflective mind
- think about Warren Buffett as a role model: a modest ego, but outstanding success tend to go together in value investing.
