Signature Move1 book · 3 highlights
Independent Thought Over Herd Regression
Books Teaching This Pattern
Evidence
Charlie Munger
Tren Griffin · 3 highlights
"Mimicking the herd invites regression to the mean (merely average performance)."
"want to be a certain kind of mutant who is just completely different in their orientation to what’s an attractive investment for the rest of the market.”10"
"A fundamentally important truth about investing is that people rarely make decisions independently. This means that people who can think independently, gain control of their emotions, and avoid psychological errors have an advantage as investors."
Related Patterns
Risk DoctrineConsistently Not Stupid Beats BrilliantSignature MoveIntrinsic Value Through Cash Flow Not MomentumSignature MoveStock as Business Ownership Not Ticker SymbolCornerstone MoveMr. Market as Servant Not MasterStrategic PatternFree Cash Flow as Valuation BedrockOperating PrincipleBottom-Up Only Valuation