It doesn’t matter what high profile investors are buying or selling

“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’ve been in the [poker] game 30 minutes and you don’t know who the patsy is, you’re the patsy.”
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’?
The good news is that we can do something. Kahneman describes risk policies as decision rules that are always applied in similar situations.
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