Practiced Ignorance in Complex Fields

“Benjamin Graham who held the following principles: • • The investor must impose some kind of limit on the price he pays. • • Much more important than knowing when to buy or when to sell is knowing when not to buy. • • Nobody asks an expert how to conduct their business and their life... except for the stock market. • • There are three sectors where an educated person should behave like a brainless person or a child: 1) religion; 2) the stock market; 5) mathematics. In all three cases, it is not only "appropriate" to consider oneself a perfect ignoramus, but it is also rude to argue.”

“• • The investor must impose some kind of limit on the price he pays. • • Much more important than knowing when to buy or when to sell is knowing when not to buy. • • Nobody asks an expert how to conduct their business and their life... except for the stock market. • • There are three sectors where an educated person should behave like a brainless person or a child: 1) religion; 2) the stock market; 5) mathematics. In all three cases, it is not only "appropriate" to consider oneself a perfect ignoramus, but it is also rude to argue.”