The Acquirers Podcast Excess Returns with Justin Carbonneau, Jack Forehand and Matt Zeigler | S07 E35
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Oct 9, 2025 Join Justin Carbonneau, a savvy investment professional, Jack Forehand, a value investing expert, and Matt Zeigler, a financial planner, as they dive into crucial investment insights. They discuss the importance of adaptable strategies over rigid theories, emphasizing that maintaining a commitment to a good approach often trumps perfection. They explore treating investments like owning a business, the impact of temperament on success, and the transformative role of AI in research. Plus, they stress prioritizing life goals over mere portfolio obsession.
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Adjust Base Rates For New Reference Classes
- Some modern tech giants defied earlier base rates because their reference class was different.
- Adjust reference classes to account for network effects and scale when applying base rates.
Own Stocks Like Businesses
- Think of stock ownership as owning a business and a stake in its community.
- Evaluate alignment, values, and long-term incentives before buying shares.
Record Your Thinking Continuously
- Write down your decision process and preserve it over time to review later.
- Use AI or journals to capture pre-decision thinking and reveal blind spots.
