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Strategies & Market Trends : Value Investing
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To: Dr. Ipsofacto who wrote (36844)3/4/2010 2:53:38 PM
From: Paul Senior  Read Replies (1) of 78480
 
OT. Ha. I remember it VERY well. -g- Yeah, Dr. Burry was pretty incensed. Of course, now he's worth $100M+, and I...uh...am not.

My point was that it's "generally accepted" -g- that doctors make lousy investors. People say because they're gullible or maybe not so business-savvy - that they fall prey to various glib-talking advisers. My opinion has been that the docs are so darn successful - multi-talent success and maybe even standouts in everything they do in school, and getting the accolades for that, that they naturally assume they're going to be good stock market players/investors. A continuation of their successful history. Succeeding in the market should be pretty straightforward. I mean how hard can can it be... not brain surgery surely. The thing about investing or playing the market is that you really have little control over the environment: You can buy, sell, hold. You can determine the quantities you can bet. You can take out some insurance that maybe will protect or maybe that will give some psychological comfort (insurance as with hedging through options). But what you can't do as a small investor is work harder to change the company you've invested in. And - there are varying opinions on this here - there's no correlation between the more in-depth research made, the more successful the investment selection. So, imo, hard work and brains don't necessarily lead to success.

Mike Burry (and others here) would surely disagree. Mike Burry from the article appears to be hard-wired very differently from most people. So maybe he's an exception.

Lunch calls. Back later.
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