I’d like to bring up a sort of odd question here for your consideration, because I’ve been wondering about it, and it puzzles me. My question, and it’s a serious one, is how come all the smart guys, with MBA’s, who have studied all this stuff and gotten Masters degrees in it, who understand all those terms in the 10-Q’s, and all those squiggly lines on their technical graphs that I don’t have a clue about, and who probably even understand what these companies are actually doing, how come these guys can’t do what I, and Chris, and Bear, and others on our board are doing???
Lord Keynes answered your question almost a century ago (Published in February 1936)
“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”
? John Maynard Keynes, The General Theory of Employment, Interest, and Money
https://www.goodreads.com/quotes/801915-worldly-wisdom-teach…
Why is my common sense investing producing so much better results.
What you are missing is the survivorship bias. How many tried thinking outside the box and failed?
There is an age old argument that suggests that your success is pure luck. The oldest reference to the argument that I have found dates to 1932 I believe. Having watched you operate I’m convinced it’s not luck. Yesterday I watched a video about ten billionaires who went bankrupt. They were winners until they weren’t. It’s he who dies with the most chips that is the winner. Only then can he claim victory for sure. LOL
Several of the bankrupt billionires were heavily in debt. That is one mistake you are not making. At least one didn’t pay his income tax. Some ran Ponzi schemes. There are many ways to foul up. In 2000 I ran up my portfolio to a couple million dollars and though I was pretty sharp. Alas…
I think the fun is in the adventure but beware the wheel of fortune.
Denny Schlesinger