The Motley Fool Discussion Boards
Stocks B / Berkshire Hathaway
|Subject: Re: Is there one idea above the rest?||Date: 11/19/2000 1:31 PM|
|Author: kro56||Number: 38156 of 218856|
I especially like the druken judge analogy.
If you can execute those four steps well, you WILL be successful.
It's a surprisingly simple truth. Anybody should be able to do it.
How come so few do?
As Charlie Munger has said, "just because it is simple doesn't mean it is easy."
As Keynes said in differnt words, many investors concern themselves with trying to predict the judges opinions rather than looking at the actual performance.
If you read about behavioral finance , the concept of social proof suggests that humans have a tendency to look at the actions of others for guidance when faced with a complex situation. To me, it appears that this human adaptation serves one well most of the time in making many decisions (is that crowded resturant I've never been in likel