Читать книгу Active Investing in the Age of Disruption - Evan L. Jones - Страница 21

Fundamental investing and contrarianism take time. You have to be afforded the time to allow your thesis to play out. In many instances, the markets do not accurately reflect the value of a company's future cash flows at a certain point in time due to exogenous factors. This is wonderful for good investors, and one of the primary reasons outperforming the market is possible, but it means you have to have the time to allow the market to correct and your thesis to play out. If you are forced to be a short-term investor, a huge advantage in your ability to outperform has been lost.