Buffet's "When the tide goes out" line is something I thought of often during our Bull Decade. It guided my choices of employers. I missed out on some sexy tren

Buffet's "When the tide goes out" line is something I thought of often during our Bull Decade. It guided my choices of employers. I missed out on some sexy trends by only ever choosing to go with extremely profitable monopolists, and within those companies I always try to be a key player on a project that leadership knows is what funds the crew on their yachts. It's my own insurance policy. I started my career in 2008, and I talked to a lot of guys who started theirs in 2000. I have played defensively since then. It's worked out pretty well to be conservative.