It is only by working at what you can’t do that you turn into the expert you want to become.
A slowdown in business dynamism means that entrenched firms have less to fear from upstarts
The investor does not have to be an expert in macro-economic theory.
It is mathematically inevitable that highly intelligent women will marry husbands who on average will be less intelligent than they are.
Many investors have lost money trying to tie their fortunes to a trend such as demographics and an aging population.
Small samples, sample period and survivorship bias, as weaknesses in statistics, exemplify a problem in our ordinary reasoning.
When we dig into it, it may not perform as well as we expect; it may carry more risks than we expect; and, there is a better way.
Sometimes the investment climate calls for a somewhat unbalanced portfolio.
A risky investment may be volatile, but not every volatile investment is risky.
The investment principles around selling losers and holding winners are one of the most important and subtle topics in investing; laden with psychological pitfalls