Okay, time for some stock-taking, and generic responses to reactions
First things first - One Forbes mention - doesn’t make us Wizards. If we can sustain a decent track record over 10 years (till 2020) that will be worth something. Without seeing through a full crash VP and our individual tracks aren’t worth much. So everyone please lets STOP using superlatives (especially crazymama ) . This is a thrilling journey … there is much more to navigate through … much more refinements to come in …we are sure of that …so why stunt our progress by premature titles? If we continue this journey together for next 5 …VP will be one hell of a community …that’s for sure …lets focus on the Learning …which as we know …is unending!
Second - VP is not a substitute for the Gurus or the Guru books. That’s the foundation without which one cant make real progress. However once you have laid a decent foundation, then VP is modelled to be the ideal hunting ground - for all wannabe Do-It-Yourself (DIY) Investors. If you want to learn the tricks of the trade, you shouldn’t have to look elsewhere - that’s the Mantra. The emphasis is ALWAYS on PRACTICALS - applying the Guruspeak, applying what you think you know :). Sticking our necks out in uncharted territory - not afraid to take a stand - challenge, stumble, progress and refine. Raise the bar higher …and …
What some folks (the newer members) may still be missing is that much of the captured learning …one will usually NOT find in Guru Books …at least not in as DISTILLED a form as our most important (unique to VP) Tenets… Business Value Drivers, Success Patterns, Capital Allocation, Business Quality, Management Quality, and ART of Valuation threads…and there’s more to come surely, as we unravel more of the investing puzzle … in our shared journey !!
I always keep asking fellow-travellers - if you find anything anywhere - books/guruspeak/blogs/reports that focus on any of the above (or similar) practicals, do ALERT us …for we are fanatics after distilled practical learning !!