Bounded Rationality

Sometimes it is better to just make a decision with just as much information as you have. From Bezo's 2016 shareholder letter:

Second, most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you’re probably being slow. Plus, either way, you need to be good at quickly recognizing and correcting bad decisions. If you’re good at course correcting, being wrong may be less costly than you think, whereas being slow is going to be expensive for sure.

It is prudent to be patient, but a small starter position to learn more about a company is not the end of the world. Break problems down into managemable chunks and move fast and break things like Tech likes to live by.

Compounding and Consistency

It is amazing how much can be gained from preserverance and consistency as it compounds with time. Never unnecessarily interrupt compounding and just one step at a time and it will pile up.