4 ms·
Yes, this apocryphal story sucks. Why wouldn't a shoe shine boy (or an uber driver -- for contemporary equivalence) not have insight from the many conversations
by rfd4sgmk8u 5y ago
Yes, this apocryphal story sucks. Why wouldn't a shoe shine boy (or an uber driver -- for contemporary equivalence) not have insight from the many conversations he would have with informed people during their day?
The casual throw away statement about business made during transit from a passenger might be important info.
This story is just elitism, and exactly the argument Wall Street used against RH. "unsophisticated traders". Sorry Mr Banker, the market is made up of people. Claiming unsophistication is a projection of their own insecurities.
- hef19898 5y agoThere are two aspects to the story. One, the shoe shine boy probably heard a lot of stuff. Two, he definitely had no business in trading stock. And two is the important one, once "dumb money" shows up in droves it is maybe time to get out.
- rfd4sgmk8u 5y agoIf that shoe shine boy (or uber driver) was alive in the mid to late 2010s, they would probably do trading business with RH. And that is why I am bullish on RH.
- mym1990 5y agoBecause 2 reasons: 1. Insight is great, but I would hope that there is underlying understanding of the field based on actual study and experience(assuming the shoe shiner is not in finance). 2. The shoe shiner or Uber driver likely has no idea who they are talking to, past the initial impression. I would be open to a conversation about finance with an Uber driver, but I would probably not rush home to put money on it.