Highlights
- When we were kids, most of us refused to listen to the wise counsel of our parents, to our own detriment, more often than not.
- Similarly, as investors, we refuse to listen to the wisdom of the market, also to our own detriment.
- Just as kids think they know everything, and their parents know nothing, most investors believe they know more than the market.
- The record shows that the market beats most investors, suggesting it holds some wisdom that investors would benefit. . .
