I have been investing in the public markets for over ten years now. Five of those years were as a professional investor at a hedge fund. Throughout this time I invested in multiple industries, businesses and researched over 500 different companies. From my experience in the public equity space I can confidently say that public market investors are an interesting breed. Investors in this space will claim to be long-term investors. “We invest with a time horizon or two plus years,” they will say. But despite the “long-term” mandate, they will focus 90% of their effort trying to predict what the next quarter will look like. Which I have wholly fallen victim to.