Paul Enright(@pmje73):I think if an analyst “gets it” and can really see the thesis but just models too conservatively you have to teach them how to make them see that if their narrative is right their numbers will be wrong and to size it correctly the numbers have to match the narrative. If their numbers are right and they just don’t want to take risk tell them that’s fine you won’t pay them or penalize them on the money made or less. You will keep it all. If they are timid in another way it might be more of a red flag that they’re not gonna make it.

2026.10.07 01:00

I think if an analyst “gets it” and can really see the thesis but just models too conservatively you have to teach them how to make them see that if their narrative is right their numbers will be wrong and to size it correctly the numbers have to match the narrative. If their numbers are right and they just don’t want to take risk tell them that’s fine you won’t pay them or penalize them on the money made or less. You will keep it all. If they are timid in another way it might be more of a red flag that they’re not gonna make it.