Much awaited session at Kolkata by Utpal Seth, Rare Enterprises, on "Dimensions of Mistakes in Investing", to be moderated by Varun Goenka.
#MAW

Utpal Sheth starts with a tribute to Rakesh Jhunjhunwala

Utpal Sheth lays out the context for today's session - Mistakes are rarely discussed!

Outcomes don't define mistakes. They are known through a process of deep introspection & multiple iterations. The opportunity cost of not embracing mistakes is very high.

When speaking of mistakes in investing, we often speak of 'Type 2 errors', and at times of type 1 errors. Utpal speaks of Type 1.5 error - not buying / selling with conviction!

Utpal discusses their process with mistakes - and quotes Rakesh Jhunjhunwala - making mistakes isn't a crime, repeating them is. Discusses mistakes at RARE Enterprises with the audience with ease.