Mistakes

We all make mistakes.

I have made two substantial mistakes I know about in doing this blog. (There are probably more I do not know about.)

For one mistake I just annotated the post. The other mistake was so central to the argument I just deleted the post as a demonstrably false argument is not worth any reader's time. [That post was on Fannie Mae and Freddie Mac. If you remember it - just forget it.]

In this business mistakes cost money.

If any of my readers spot something that they know to be wrong - or even think to be wrong I would really appreciate an email. We might agree to disagree - but I will try to approach any position with an open mind.

I am not writing this blog to push positions. I would rather tell you of the warts in positions (such as GE Real Estate at GE). The world is complex and most good positions have a bit of hair on them. Intellectual honesty is - in my view - a key to good investing. I am trying hard to cultivate that trait.

So please readers - keep the emails coming.

Thanks

John Hempton