“If you’ve been in the [poker] game 30 minutes and you don’t know who the patsy is, you’re the patsy.”
If you search worldwide, you will find more bargains and better bargains than by studying only one nation. Also, you gain the safety of diversification
The house of fear has many windows
Shielding themselves from the pain of losses by Broad Framing
Heuristic – This alternative to careful reasoning may cause us to answer the question of what is the fair value of a stock by asking the question, what is the ‘market value’?
It is mathematically inevitable that highly intelligent women will marry husbands who on average will be less intelligent than they are.
Small samples, sample period and survivorship bias, as weaknesses in statistics, exemplify a problem in our ordinary reasoning.
A fancy spreadsheet will give precise numbers but can also give you a false sense of accuracy.
The moral courage to act ‘in opposition to the crowd’ when your judgement tells you are right
It’s not that the contrary views aren’t there. We just ignore them.