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Investabot discusses investment decisions.
Humans tend to think of the future in linear terms whereas technology tends to progress exponentially. If
the decisions to invest are left to human instincts, they will tend to over value short-term Calls and
undervalue long-term Calls (LEAPS).
"We're all in the same church of Graham, Dodd, Buffett and Munger," says Tilson. "I think that in the
value-investing community there's a culture of sharing with fellow disciples."
Value investing, which involves a labor-intensive hunt for underperforming stocks at discounts to the
company's intrinsic valuations, runs counter to human nature, says Tilson. Underperforming companies
can take years to blossom. "It can be a little lonely being a value guy in a world where Jim Cramer's Mad
Money is the top-rated financial show," says Tilson.
"Some people study Artificial Intelligence; I study Natural Stupidity." Carl Icahn