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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Mike Buckley who wrote (44905)7/25/2001 12:17:09 PM
From: Pirah Naman  Read Replies (3) of 54805
 
Another word to the wise...

The conversation here has been great, and it may well be great at the fool. But we should all be vigilant in how we form conclusions about which writers to believe. Not because anybody is dishonest, but because well constructed prose is convincing, often regardless of its accuracy. If we lack a level of expertise in an area, we are handicapped in evaluating the expertise of others in that area. Be aware that even a true expert is likely to have a limited range of expertise, so if you see somebody argue eloquently about biotechnology, semiconductors, fiber optics and software, for example, you are probably seeing somebody who is eloquent!

As much as we humans are wrong, we should maintain humility (pretty easy recently) and know that we are going to be wrong going forward. As will our fellow humans, however bumbling or eloquent they seem. Given this, seek a margin of safety. You can do this through valuation, or you can do this through digging deeper and placing less reliance on the writings of others. Or ideally, both.

- Pirah
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