A great learning exercise is to review all of the original diligence done prior to making an investment, years after making the investment. Word-by-word, line-by-line, number-by-number.What happens with the benefit of hindsight is certain numbers, certain words, certain observations from the original diligence jump off the page.
What might have been innocuous points that blended into a sea of diligence at the time of the investment now elevate themselves into being the key elements that disproportionately drove the entire trajectory or outcome of the investment.
And it is with the clarity of that lens that when now doing due diligence on a new investment – you just know that certain aspects of this diligence will pop years later as the core drivers of the outcome. The key is to discern which items will be those disproportionate levers in advance.
Therefore, the best way to train one’s mind to see those levers in advance is to go through the process of reviewing past diligence, word-by-word, line-by-line, number-by-number, to see them in prior investments to train one’s eye for future investments.
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https://www.YouTube.com/watch?v=ejeIz4EhoJ0
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