UNH – The day after we bought it, news broke that Buffett got in. FISV – We held it for a few quarters, and the yield dropped quite a bit. Recently, we found out the main short-seller took a position. There are three or four similar examples, mostly leading companies whose market caps were heavily slashed. The reason I’m sharing this isn’t to prove how great my judgment is, but to express one point: The market will form certain pricing consensuses. Consensus determines whether something is overvalued or undervalued. If the consensus is overvalued, you should exit early. If the consensus is undervalued, you need to work hard to assess from a business perspective whether it truly has potential.