Brexit - On the bright side ...
Amen of the Week:
“Every single one of the premises on which we ran our company was wrong: centralized marketing, massive centralization of everything, massive specialization – it was all nonsense… Practice in the hard light of reality shows things. What do you do when you realize the theory is wrong? You change your ideals to make them realistic.”
- Sir James Goldsmith, entrepreneur and legendary British investor (on his early challenges in business)*
Yesterday I shared my thoughts on Brexit with our clients. I attempted to explain how this might be a good thing for selective and patient investors. You can read the note here.
As a follow-up to Goldsmith's quote above, here’s another one that resonates:
“When 90 percent of people are thinking the same thing, you can be certain that if you do exactly the opposite you’ll make a fortune.
- Sir James Goldsmith*
Yours in the Field,
Frank Byrd, CFA
* from Billionaire, The Life and Times of Sir James Goldsmith by Ivan Fallon; Little Brown & Company, 1991.
While the information presented herein is believed to be accurate, Fielder Capital Group LLC (Fielder) makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in the document. Fielder is under no obligation to notify you of any errors discovered later or of any subsequent changes in opinions. Nothing herein should be construed as a recommendation to buy or sell any of these securities. It should not be assumed that any of the securities, transactions, or holdings discussed will prove to be profitable in the future or that investment recommendations or decisions Fielder makes in the future will be profitable or will equal the investment performance of the securities discussed herein. Fielder or its employees may have an economic interest in securities mentioned herein. This information is intended only for the recipient of this email. Under no circumstances should this report be shared with or forwarded to anyone else without the express permission of Fielder.