After rate-hike upheaval in 2022, the beginning of 2023 has felt like the first semi-normal year in markets since the COVID crash of 2020. In this letter, I:
1. Am reminded why I don't short stocks
2. Discuss Pulak Prasad's exceptional new book "What I Learned About Investing From Darwin"
3. Delve into the third tenant of Prasad's investment strategy, which surprisingly implores investors not to be lazy, but to be very lazy
As always, I look forward to hearing your thoughts, comments, and criticisms.
Please feel free to share this letter or reach out to me for further discussion!
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