“I think I found really what I want to do—analyzing businesses, trying to understand the world, developing conviction, looking for places where the conventional wisdom is wrong. I love living in that world and I enjoy this. And so when something starts to go against us—we bought something and it’s down—I really enjoy that. Distinguishing between a mistake and an opportunity is where you make a lot of the money doing this. And I just really enjoy that. And I think a lot of people don’t. I think that they don’t like confronting their own mistakes…. I really value disconfirming evidence…. When things start to go against us, my intensity of desire to figure it out kicks in…. Identifying where we’re wrong, that’s where we work most intensely.”
—Bryan Lawrence.
