Successful long-term investing requires margin of safety—overbuying or paying rich multiples for hot growth stocks is a common mistake during bull markets when everyone is making money and irrationality becomes intoxicating, creating systematic undervaluation of risk.
factualpending
Speaker
William GreenEvidence Quote
“There's this irrationality that creeps in, especially during bull markets where you see other people making money and it becomes kind of intoxicating”
Source
Richer, Wiser, Happier Q1 2023 | What We Learned From Ray Dalio & Charlie Munger (TIP538)— The Investor’s PodcastCreated: 8/10/2026, 11:05:15 PM
My Notes
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