Investment courage...............................

If you are trying to outperform the market, mathematics dictates that you must deviate from the view of the crowd.  For most people, being contrarian requires courage. ... To profit from courage, you often must have some cash on hand.  Having that cash available when the crisis hits also requires courage because it's hard to sit on cash when markets are rising.  The human urge to avoid missing out is a powerful one that can drive investors into the deadly grip of a stock market bubble.

-Tren Griffin,  Charlie Munger:  The Complete Investor