Second essay of series on greyness of messy world & (seeming) contradictions that this leads to
Nicely written. Aligns well with Buffett's thoughts about developing a circle of competence and more importantly knowing the boundaries of that circle. And Munger's quote "“The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don't. It's just that simple.” Key really is to know for yourself when you have that edge/odds and then act accordingly.
Thank you for brilliant post.
market is efficient most of the time except in extremes
Just could not agree more. You have nailed it beautifully and thank you
Great post! You certainly have projected 99% humility and 1% arrogance (sarcastic bashing of 'pundits') :p
Agreed.Arrogance works when you have ensured there is very limited downside to the investment