Don’t let negativity bias affect investing strategy
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I’m going to steal a famous thought experiment from Warren Buffett.
The year is 1910. Rochester’s local startup — Kodak — is growing rapidly. Bausch & Lomb and Gleason too. Our new Public Market on North Union has become a hub for regional farmers and merchants. We’re more “Flower” than “Flour,” thanks to the world-leading greenhouses of Ellwanger & Barry.
Amid this boom time in Rochester, a mysterious character approaches you with an equally odd investment opportunity. He offers to sell you a share in every American company. In essence, they want you to invest in our economy writ large. But he insists you hold that investment for at least 100 years. It’s a long-term mandate.
Alongside this…
