Stansberry Investor Hour

Gary Mishuris of Silver Ring Value Partners talks about today's market being one of the most challenging periods for bottom-up investing since 2007. In terms of the quality of a business versus its stock price, there isn't a lot of opportunity right now. But he emphasizes that transparency and candor with clients is essential, as is prioritizing the long-term process over short-term performance. (5:19) Next, Gary describes what sets Silver Ring Value apart from other fund managers. He shares why he left the "sausage factory" of larger firms behind, how his firm makes money for clients rather than off of clients, and how his unique temperament and behavioral models allow him to make better investing decisions. (14:38) Gary also goes into detail on the psychology behind investing and compares it with a game of poker. He talks about trying to avoid making mistakes, continuously learning from past errors, the importance of having guardrails in place, and cutting your losses. (21:44) Then, Gary explains why you