"You entirely miss my point. I like to start companies - and I...

"You entirely miss my point. I like to start companies - and I have.
And I really enjoy selecting companies that are in early stages of growth and that have extraordinary technology and opportunities. It's to be involved in the growing of technology companies where I find fulfilment. And with the elevated level of risk comes elevated potential reward and the gratification of building something, not leaving this task to others. It is a little intellectually demanding and requires some courage and a "get up and go" attitude."

That's all very good and well, but I don't believe that's both a necessary and sufficient condition for successful investing.

As a case in point, I very much like doing woodwork; it gives me a great sense of personal fulfillment when I make a piece of furniture where all the grooves and joins align perfectly and the natural beauty of the grain of the wood is brought to the fore.

But that wouldn't necessarily compel me to invest in a cabinetry business or a wood distribution business.

Sometimes there might indeed be a nexus between what rocks one's personal boat and making money out of the stock market. And its great when that happens.

But in my experience, it is rare... all of my most successful investments are in businesses that operate in fields in which I have zero personal passion... such as plumbing supplies, transport fuels infrastructure, operating of hospitals, up-market kitchen appliances, human blood plasma-derived medicines, mining services, paints and coatings, insurance broking, private health insurance, dental consumables, financial services.... none of those are areas in which I have any remote personal interest, other than to the extent that they are able to create enduring wealth for myself and my family.

On the other hand, my observation is that the areas of life that do interest me in terms of my personal passions, tend to be quite counter-productive when it comes to the deriving of profits.

So I think one should try very hard to keep emotions and passions separate from investing activities.

Because I have long-observed that the former tends to cloud thinking required for the latter.


"I reckon you would enjoy the experience and I also believe now is the perfect time to join the Mesoblast team. It would be marvellous to have you on board."

Firstly, judging from the emotional cost that I see many MSB holders experiencing over the years, I don't believe that is an experience I would enjoy.

Secondly, getting "on board" and being part of the "Mesoblast team" sounds disconcertingly tribal to me, a sort of "Us versus Them" situation.

I don't think that identifying with any particular grouping for one's investment cues is conducive to good investment outcomes.
Quite the exact opposite, in fact.
(Demonstrated quite ably right here on these threads)