The money you take out of the market is from someone who was stubborn and wouldn't change
A columnist at fool.com has a worthy list of 9 statements that will make you think differently about the world. They focus on how conventional wisdom can be turned on its head in ways that are completely unpredictable.
Two Australian surgeons found that half of the facts in that field also become false every forty-five years … Max Plank codified this in a maxim: “New scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.”
Nothing moves faster than financial markets so assume that half of everything we believe will be obsolete in 20 years.
Keep learning, stay humble. When an old hand laments that markets have changed, he’s right. Change or step aside.
