Making Investment Decisions without Pretending to Know What Comes Next with Kavan Choksi Investors rarely get the luxury of complete information. A company can report strong results just before its industry weakens. Interest rates can change expectations around valuations. Consumer behavior, geopolitics, competition, and economic conditions can alter an investment case in ways that were difficult to anticipate months earlier. Kavan Choksi recognizes that disciplined investing begins with accepting this uncertainty rather than trying to disguise it with overly confident forecasts. That acceptance changes the question an investor asks. Instead of trying to determine exactly what happens next, the focus moves toward what can reasonably be understood today. The strength of a business, its financial position, the price being paid, and the risks surrounding the thesis offer something more concrete to examine than predictions about where markets might trade next quarte...