Saved by Matthew Giampetroni
Who Is On the Other Side?
Some of the most important questions to ask yourself are: Who has the right answer, but I ignore because they’re inarticulate? And what do I believe is true but is actually just good marketing?
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
Making money in markets requires having a point of view that is different than what the current pricesuggests. Michael Steinhardt called this a “variant perception.”13 Most investors fail to distinguish betweenfundamentals and expectations. When fundamentals are good they want to buy and when they are poorthey want to sell. But great investors alwa... See more
Dan Callahan • Reflections on the Ten Attributes of Great Investors
But the very factor that causes market inefficiency -correlated beliefs -makes exploiting that inefficiency difficult. The desire to be part of the crowd is pow erful, and being apart from the crowd is scary for most
Michael J. Mauboussin • Understanding skill - a paradox
Many finance and investment decisions are rooted in watching what other people do and either copying them or betting against them. But when you don’t know why someone behaves like they do you won’t know how long they’ll continue acting that way, what will make them change their mind, or whether they’ll ever learn their lesson.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Many finance and investment decisions are rooted in watching what other people do and either copying them or betting against them. But when you don’t know why someone behaves like they do you won’t know how long they’ll continue acting that way, what will make them change their mind, or whether they’ll ever learn their lesson.