Individuals who cannot master their emotions are ill-suited to profit from the investment process. – View Quote Details on Individuals who cannot master their emotions are ill-suited to profit… - Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble…to give way to hope, fear and greed. – View Quote Details on Most of the time common stocks are subject to irrational…
- You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right. – View Quote Details on You are neither right nor wrong because the crowd disagrees…
- Warren Buffett, story from Benjamin Graham: A story that was passed down from Ben Graham illustrates the lemminglike behavior of the crowd: “Let me tell you the story of the oil prospector who met St. Peter at the Pearly Gates. When told his occupation, St. Peter said, “Oh, I’m really sorry. You seem to meet all the tests to get into heaven. But we’ve got a terrible problem. See that pen over there? That’s where we keep the oil prospectors waiting to get into heaven. And it’s filled—we haven’t got room for even one more.” The oil prospector thought for a minute and said, “Would you mind if I just said four words to those folks?” “I can’t see any harm in that,” said St. Pete. So the old-timer cupped his hands and yelled out, “Oil discovered in hell!” Immediately, the oil prospectors wrenched the lock off the door of the pen and out they flew, flapping their wings as hard as they could for the lower regions. “You know, that’s a pretty good trick,” St. Pete said. “Move in. The place is yours. You’ve got plenty of room.” The old fellow scratched his head and said, “No. If you don’t mind, I think I’ll go along with the rest of ’em. There may be some truth to that rumor after all.” – View Quote Details on Warren Buffett, story from Benjamin Graham: A story that was…
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Individuals who cannot master their emotions are ill-suited to profit from the investment process. – Types of People and Views on Market
What are the many types of people who disseminate their views about the market? What are the major categories that I am missing or what is a better way to classify and make this useful?”
No doubt, there is a book to be done on the subject. That said…
This list is presented in order of published appearance. A caveat: “many fall into more than one category and mobile via age and wealth changes.”
The Connected Person, who makes you feel without saying it that she/he is or will be connected to the very lynch pin of policy at the Interior or some such.
Tout, who has position and wants you in for his/her favor.
Sponsor, who advertises or sponsors programs that treat him/her well.
Would-be-manager without funds impresses with his/her knowledge/ideas for you to join.
Old lion, who is not virile but still fights younger from replacing him/her in power/ romance.
Curmudgeon, who hates everything modern and wants all back to old days before tech.
Spankist, a beauty but aggrieved to give spanking unless things in order her/his way; observed to be everywhere and influence growing among spankisto and spankista’s.
Iconoclast, who is always contrary, never reads papers or travels, and feels market is wrong.
Hole-In-Shoes, who only drinks coke and eats hamburgers, never pays a fee more than 10%.
Sanctimonious, who pretends to be honest while blind to any firm dishonesty/misdoing.
Academic-Consultant, who manipulates numbers retrospectively to allure investors.
Mystic, who looks at stars and bent keys.
Old Timer, who is guided by iron castings reports and freight car loadings and newsprint figures [sample]: all as timeless methods (non retro) with healthy respect for knowledge.
Fund Manager, who is quoted as “good buy” on stock that he/she sold bulk of before recall.
Jack of All Trades, who explains every rise and decline due to (un)certainty about earnings and rates and other well chosen factors. Always welcome on TV because of his versatility. (more…)