1 Comment
User's avatar
Eugene's avatar

Once again -- great finds and post! Always collect new and great "letters" to read and I'll add this to my queue.

Your write-up about the concept of thinking in hyperbolic discounting reminds me very much of what your CEO has spoken to previously in a Q&A: https://www.csisoftware.com/docs/default-source/investor-relations/shareholder-q-a/qa-september-2018-final.pdf (the very last question and answer), on the "very special case of value investing..."

Expand full comment