Paying close attention to the world around you and your own behaviours can be a very rewarding source of new investment ideas. Conversely, there can be a severe opportunity cost to dismissing of companies with unique, fast growing, mass adopted solutions (with large scale target markets) as too expensive. Some of my biggest ‘errors of omission’ have come from failing to do so.
Forbes reported in 2016 that Ashton Kutcher turned $30mm into $250mm by investing in high growth companies, such as Uber, Airbnb, Spotify and Pinterest, and I suspect his personal observations played a much greater role in his success than traditional investment analysis. This is an inadequate level of due diligence in isolation, of course, but there are very valuable lessons in examples like this. We have all witnessed the price ascend of Amazon, Google, Lululemon Athletica, Square, etc. concurrent with our increasing use of their products, and they looked really expensive the whole way up.
Making It Happen 