General Investing Framework

Fundamentals, Expectations, Valuation. Price-implied expectations. MIC. Trough-on-trough, peak-on-peak. One-off event extrapolations (optimism, pessimism). Growth accels/decels. Valuation - bias, fear, info asymmetry, slower absorption of info. Contra-thesis. 1) Why does opportunity exist, 2) where are we different, 3) how do we get paid.