Investing Philosophy

The genuine beliefs an investor holds about how markets work and what generates returns — distinct from whatever has simply worked in the last few years. Mostly Borrowed Ideas identified a core challenge: “to what extent my portfolio is basically just the product of what has worked in the last few years vs what my investing philosophy truly is.” Bull Markets make it “perhaps impossible not to feel like a genius”; Mimetic Theory explains why — investors adopt frameworks because they hear others praise them, not because they’ve tested them through adversity. The philosophy only gets revealed when the portfolio falls 40–50% and takes years to recover.

Where this appears

• 1-7 Thread - the Ruse of… (tweet) — Mostly Borrowed Ideas on the difficulty of knowing your true investing philosophy vs. what a bull market made work.