Thursday, August 25, 2011
Never Underestimate How Wrong Everyone Else Can Be
Watching CNBC this morning and some guy they were interviewing had one of the best quotes I have ever heard--"Never underestimate how wrong everyone else can be". A lot of people make their investment decisions by getting recommendations from the so called "smart money" the problem with that is that these people are often wrong, sometimes very wrong. As I write this post people are debating over what Bernanke will say tomorrow, what Buffett buying into BOA means, what Steve Jobs leaving Apple means, etc. All of this is just noise if you just stay in harmony with the trends in the markets.