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I've learned there's a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance. ↗
It's very important to go back and keep in mind the distinction between handling these events as criminal acts, which was the way we did before 9/11, and then looking at 9/11 and saying, "This is not a criminal act," not when you destroy 16 acres of Manhattan, kill 3,000 Americans, blow a big hole in the Pentagon. That's an act of war. ↗
