Charlie vs RHers

The parallel he draws between investing and chess is that often it’s not a good idea to spread decision-making power — it’s better to leave it in the hands of people like this chess player.

Why must he reminds me of late Steve Jobs. And I miss the current one, Elon Musk. So sad.

“It’s a mistake for investment management to hire armies of people to make conclusions. Better off to concentrate your decision power in one person… and choose the right person,” he said. “I don’t think it’s easy for ordinary people to become great investors.”

This idea is what people use for selecting the CEOs of a company. It is just as difficult to find the right person. Yahoo! and JCP have been trying but failed to find the right person.

“Well it’s most egregious in the momentum trading by novice investors lured in by new types of brokerage operations like Robinhood,” he said. “And I think all of this activity is regrettable. I think civilization would be better without it.”

I think that we’re crazy to allow it.

I am wondering too.

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RHers need a healthy 2008 recession to straighten them out. Downturns create character. Looks like we ready to have one soon.