Part 4/9:
Coffin reflects on his mistakes as an investor, emphasizing that he has made typical missteps that come with market participation rather than catastrophic errors. Acknowledging that the stock market is inherently unpredictable, he leans into a diversified investment strategy to mitigate risk. He emphasizes the importance of maintaining a margin of safety to navigate the unanticipated financial dips that can disrupt an individual’s plans.