Checking in with................

 

...............................Barry Ritholtz

There is a flaw in the human wetware that leads to a demand for predictions.  The evolutionary propensity humans suffer from is the desire for specific claims from self-confident leaders.

To avoid bad advice, you must always ask yourself, "What is this person selling?"  Once you figure out what the product is, you can put the sales "advice" into better context.

. . .  we must constantly check our own knowledge base as it ages and decays over time.

Recognizing how little you know is a superpower.  If we were less certain of ourselves and had more humility, we would all be better investors.

Pessimism is a bet against human ingenuity, and for half a million years, that has been a losing bet.

You might be surprised to learn that I believe the three most important words in investing are, "I Don't Know."

"I don't know" is a very powerful tool that will help keep you out of trouble a lot, if only you have the courage to say it.