Nothing beats the contentment that comes from doing great work: contentment that the day was spent doing the one thing we deemed meaningful, the contentment that the work was done with no distractions or switching of tasks.
But doing great work is hard. It needs a strong commitment and internal drive to elevate its importance and push all distractions aside.
In the world of investing, great work is doing deep research into a particular business. Such work takes days or weeks or months, and shortcuts only lead to shallow work or borrowed conviction.
Great work is done by consciously choosing to do the slow laborious manual work of reading years of annual reports, management transcripts, and gaining other industrial insights. Such great work happens by consciously choosing depth over width, and by consciously choosing to forgo the urge to stay abreast with many other things on a daily basis.
Great work won’t show outcomes on a regular basis, but it would lead to a meaningful journey that matters in the art of long-term investing.
Akhil D.