LO making ppl wait to actually pick stocks
Why do LO's feel the need to make people wait so many years before they let them actually pick stocks?
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Because you know nothing for a long time. You think you know something, but you really don't. I used to think the same thing you do around 1-2yr mark, and then after I crossed 5yr mark I realized I completely miscalibrated risk (made money in a lot of stuff in hindsight I didn't deserve to and lost money in a lot of stuff which was a consequence of knowing nothing but overestimating myself). Risk is the key nuance which takes a long time to really understand, you have to live thru it as I can explain till the sun goes down but you won't understand until you've been in the driver's seat
LO has a long time for investment cases to play out, often 5yrs or so....so you get fewer reps vs. L/S where you're seeing 30-50 theses play out a year. In LO you might only see a handful really play out per year. Fewer reps = more years
Why do medical schools only let surgeon's operate once they've graduated? Why not in freshman year med school?
*surgeons
lol this attitude above is part of the problem. LO investors seem to act like they are doing God's work or something and its insanely difficult to pick stocks to be in a portfolio that statistically underperform the index over the LT. Give me a break lol. I can almost guarantee... you're not that good. Also, at what point does diminishing marginal returns come into play for "experience"? All I'm saying is that I've seen enough mediocre pitches get money put behind them just because the person has 12-15 years of experience vs someone with 3-4 years with a solid thoughtful pitch gets ignored. IMO this is part of the problem/cause of perpetual underperformance in the LO industry. Supposed to be meritocratic environment but operates much more like a union where tenure is all that matters.
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