"At Oaktree, one of our mottos is 'we don't look for our investments; they find us.' We try to sit on our hands. We don't go out with a 'buy list';rather, we wait for the phone to ring. If we call the owner and say, 'You own X and we want to buy it,' the price will go up. But if the owner cal
The commitment bias is the tendency to stay aligned with a position or viewpoint. Once a position is established, we tend to keep the same opinion. This can be the “kiss of death” in the investment market where new information is always becoming available.
