The untold secret of McDonald’s is that when you sell a restaurant to a franchisee, sales typically go up a lot because the franchisees do a much better job managing the store.
In the investing business you need a – a high degree of confidence but you also need a high degree of humbleness and you have to balance those two… Humbleness comes from mistakes.
I’m not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making – just the facts.
