The word "persistence" has two meanings: the action or fact of persisting; the quality or state of being persistent.

We believe that investing is a humbling profession as every decision you make is a mistake - you either bought too much or not enough. Knowing how to evaluate businesses, conducting deep research and being vigilant on valuation has now become table stakes.

Staying relevant over the long term requires curiosity, paranoia and humility. You will be wrong a lot. You will go through stretches of underperformance. Through all of this, you have to show up everyday and put in the reps. Only the persistent survive. We want to align our organization around this north star to ensure that outperformance is persistent over the long term.