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"A Random Walk Down Wall Street", which the author praises, is one of the worst books you can ever read if you have worked on compounding your knowledge in a ce
by bloodyplonker22 4y ago
"A Random Walk Down Wall Street", which the author praises, is one of the worst books you can ever read if you have worked on compounding your knowledge in a certain field and understand how businesses work. The book essentially tells you to give up on trying to pick good companies and buy an index fund. It pompously asserts that even the best investors are only successful because they got lucky. For most people, buying an index fund is the right thing to do, but if you truly think you understand businesses, the book simply tells you that you do not and you should give up.
- xyzelement 4y agoExtensive research shows that short of genuine insider information (which is illegal to trade on) - just having good research is not enough to consistently outperform the market. As I mentioned in my other post - even top hedge funds are "wrong" nearly half the time, despite having the best insight and resources. I learned a long time ago to visualize "Goldman Sach's industry X special fund" as the counterparty to any trade I do. Give me a bit of humility.