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Participant ○○○

Greed, Fear, Luck, and Indexing

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Frequent Contributor

Re: Greed, Fear, Luck, and Indexing

Thanks.  Good read and for timely learning.  

"The line between people who are very successful and very unsuccessful can be really thin and we often only know that in hindsight. To me, one of the best ways that you can figure out if an investor is lucky or actually successful is how they have performed in different environments, can they succeed not just during the big bull market but can actually do well during the bear market as well?"

 
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Frequent Contributor

Re: Greed, Fear, Luck, and Indexing

“It’s not now much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”

-Robert Kiyosaki

Bob

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Frequent Contributor

Re: Greed, Fear, Luck, and Indexing


@Learner wrote:

The subject line might give you an idea about this article.

https://m.economictimes.com/markets/expert-view/for-successful-people-like-howard-marks-warren-buffe...


 

 Thanks for posting, it is a must-read, many great passages. A couple of snippetts;

 

"My broader point with that in the book is we need to be careful about who we worship"

 

"The line between people who are very successful and very unsuccessful can be really thin and we often only know that in hindsight. To me, one of the best ways that you can figure out if an investor is lucky or actually successful is how they have performed in different environments, can they succeed not just during the big bull market but can actually do well during the bear market as well? "

 

"There is a broader point to this. For most individual investors, my question will be why are you necessarily looking for an edge? The market will give you a great return out there if you just take it rather than keep looking for an edge over your competitors, over your brother, your co-workers, your niece, and nephew whoever that might be."

 

Stay safe

 

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Contributor ○○○

Re: Greed, Fear, Luck, and Indexing


Thanks for the link to this article.
I've read other articles from Morgan Housel and appreciate his insights.
Link

Long-term investors considering actively managed funds should ponder the following scenario.

"Can they do good not just in this economy but in the last economy and the next economy as well? I think it is one of the issues that we have when we are trying to find investing role models and people who we really admire is that it really takes 10 if not 20 or more years to determine whether an investor is actually legitimately successful or not, that their success is driven by their actions and not necessarily luck."

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