Michael Moritz backed Google, PayPal, and Stripe, and Charlie Munger credited one specific trait for his success over smarter rivals. His single question about Amazon stops experienced investors cold and exposes the habit that quietly destroys most portfolios.
Sir Michael Moritz spent about 38 years at Sequoia Capital, where he backed companies like Google, YouTube, PayPal and Stripe. He has a simple explanation for why most investors fall short. On a new episode of Richer, Wiser, Happier from The Investor’s Podcast Network, Michael Moritz said: “Most investors are congenitally incapable of doing nothing. They just have to do something.”
In his view, the urge to act is the problem. Investors trim or sell for reasons that have…
