I’ve been evaluating a potential investment and researching the industry. Today, I spent time with someone in my network who’s worked in that industry for over a decade. It took only an hour’s conversation for me to gain a much better understanding of the industry and its incumbents and get feedback on the value proposition of the company I’m evaluating.

Today was a reminder that you can’t know everything, and it’s helpful to have a network of people who can fill your gaps in various areas. Especially if you’re a generalist investor.