This morning Sally launched our portfolio on the national radio at Radio 24/7's popular morning show The Millionaires Club. The show is in Danish but if you are fine with that you can find the podcast here.
The show was headlined "Logic or Emotions" and was hosted by Bodil Gantzel.
Sally talked through some of the logic behind our investment philosophy with a special emphasis on how Attribute Substitution can damage investment research by tricking the investor into answering irrelevant-but-easy questions instead of relevant-hard ones ("Do I like Ford cars?" instead of "Is Ford stock a good investment?").
Sally also talked about the negative halo effect where negative news and associations can drag a company into being too cheap and how this can be an opportunity for the rational investor who manages to see through this and evaluate the facts systematically.