It’s the 18 year olds who will charge machine gun nests and capture positions. Druckenmiller had no precedent so he could go out guns blazing. It was because all the other experienced investors were shell-shocked from the past market environment and wouldn’t be able to adapt to the new bull market. His boss told him it wasn’t because Druckenmiller was more qualified. This runs in parallel to Stan Druckenmiller’s story.ĭruckenmiller was promoted to lead the investment team at his bank when he was 25 years old. Vinall points out young people may have a leg up against older investors who are used to a different investment world. Investing, like many professions, is one that requires adaptation to new environments. People dislike uncertainty and we’ll find whatever proxy we want to create faux certainty. The running joke against start ups is the hypocrisy of college drop outs looking for 10+ years of work experience when hiring. Looking at most jobs, years of experience is considered the benchmark of competence. One element Vinall questions is whether more experience makes you a better investor. Not disagreeing with some popular belief but helping me see the other side of the coin.Ĭoncepts such as: How can discipline be a bad thing? How can regulation be a great thing? What if two competitors have more in common than different? What if stock picking requires shunning reversion to the mean? These were some of the questions he helped me ponder. One reason is how he questions foundational norms. Continued abuse of our services will cause your IP address to be blocked indefinitely.Rob Vinall’s RV Capital letters are among the few I read as soon as they hit my inbox. Please fill out the CAPTCHA below and then click the button to indicate that you agree to these terms. If you wish to be unblocked, you must agree that you will take immediate steps to rectify this issue. If you do not understand what is causing this behavior, please contact us here. If you promise to stop (by clicking the Agree button below), we'll unblock your connection for now, but we will immediately re-block it if we detect additional bad behavior. Overusing our search engine with a very large number of searches in a very short amount of time.Using a badly configured (or badly written) browser add-on for blocking content.Running a "scraper" or "downloader" program that either does not identify itself or uses fake headers to elude detection.Using a script or add-on that scans GameFAQs for box and screen images (such as an emulator front-end), while overloading our search engine.There is no official GameFAQs app, and we do not support nor have any contact with the makers of these unofficial apps. Continued use of these apps may cause your IP to be blocked indefinitely. This triggers our anti-spambot measures, which are designed to stop automated systems from flooding the site with traffic. Some unofficial phone apps appear to be using GameFAQs as a back-end, but they do not behave like a real web browser does.Using GameFAQs regularly with these browsers can cause temporary and even permanent IP blocks due to these additional requests. If you are using Maxthon or Brave as a browser, or have installed the Ghostery add-on, you should know that these programs send extra traffic to our servers for every page on the site that you browse.The most common causes of this issue are: Your IP address has been temporarily blocked due to a large number of HTTP requests.