Baker says Internet bubble scars with 80-85% drawdowns keep a lid on tech valuations today.
“In the bubble, you went down 80 or 85. Dramatically different. And so the scars are so deep from that bubble that just that puts a lid on tech valuations.”
Baker shares mentor Jennifer Yurig's principle that investors must choose between panic early or double down late, rarely both.
“She had this phrase that I just always think about. Ultimately, as an investor, you either have to panic early or double down late. And essentially no one does both.”
Baker quotes mentor Jennifer Yurig: investors either panic early or double down late, not both.
“Ultimately, as an investor, you either have to panic early or double down late. And essentially no one does both. And know thyself.”