We spend a lot of time talking about competitive advantages and quality businesses, which is another way of saying we think the average investor, with diligence and patience, can become a pretty good stock picker.
So, how come we read statements like the following from educated sources:
"When people buy stocks, they think they are playing a game of skill," said Meir Statman, finance professor at Santa Clara University in California. "When the stock goes down rather than up, they think they have lost their knack. But they should take heart. All they have lost is luck. And next time, when the stock goes up, they should remember that was luck too." (From a September 26 Wall Street Journal article called "Don't Ignore Luck's Role in Stock Picks.")
Just for info, have a nice trading week
So, how come we read statements like the following from educated sources:
"When people buy stocks, they think they are playing a game of skill," said Meir Statman, finance professor at Santa Clara University in California. "When the stock goes down rather than up, they think they have lost their knack. But they should take heart. All they have lost is luck. And next time, when the stock goes up, they should remember that was luck too." (From a September 26 Wall Street Journal article called "Don't Ignore Luck's Role in Stock Picks.")
Just for info, have a nice trading week
