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josh's clients aren't stupid, they're smart

josh's clients aren't stupid, they're smart

Posted May 14, 2011 1:41 UTC (Sat) by rgmoore (✭ supporter ✭, #75)
In reply to: josh's clients aren't stupid, they're smart by cmccabe
Parent article: Scale Fail (part 1)

Warren Buffet has articulated his stock market strategy many times. Do your research; only invest in things that you understand; invest for the long term.

That isn't an investment strategy; it's a short list of how to avoid common investment mistakes. Yes, you need to put your money into businesses you know and understand, but the sticking point is understanding business and knowing what to research when you're doing your homework. It's the knowledge necessary to do those things that makes Buffet an investment genius, and that detailed knowledge can't be encapsulated into a few pithy rules.

As investment advice those rules about as useful as Babe Ruth's advice on hitting a baseball: wait for a good pitch and hit it. It's good advice as far as it goes, but it's useless without the talent and skill to put it into practice. Similarly, it's great to come up with a list of best coding practices, but they're no replacement for judgment, skill, and experience in programming.

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