Sometimes (often actually) in investing, you do know where you’re going, and when you do, you can be efficient. Put in place a plan and execute. In contrast, wandering in investing is not efficient … but it’s also not random. It’s guided – by hunch, gut, intuition, curiosity, and powered by a deep conviction that the prize for clients is big enough that it’s worth being a little messy and tangential to find our way there. Wandering is an essential counter-balance to efficiency. You need to employ both. The outsized discoveries – the “non-linear” ones – are highly likely to require wandering.
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