Respond to questions from randoms like me!! Of course I am being facetious but I have gotten many more non responses from people of lesser stature. I sent a couple questions to Mark Leonard along with my presentation and he replied!!! Apparently this is much more common than you’d expect. The other questions should be answered in the next shareholder Q&A but with his permission, see the response to my presentation below:
Me: Sycophantism aside, I think there is reason to believe you are halfway through an “Outsider” type run and I did a brief presentation about it here . Any comments and thoughts are greatly appreciated.
Mark Leonard: Re your Outsider question… I think the presentation is fine, but I think you should have pointed out the enormous survivor bias in Will’s book. He didn’t include all the managers who had outsider characteristics, but got tired or old or too distracted over time, and lost their magic.
So, there you have it, Leonard’s response. In summary, beware of survivorship bias. Duly noted. I do not see Leonard as too tired, too old, or too distracted. Only time will tell!!!
*Note: It goes without saying that all my posts are not investment advice. One must do their own work.