Markets make everyone feel stupid at some point

BloombergOpinion/Barry Ritholtz

“The success of Berkshire teaches us a couple of lessons: First, you must have a process for deploying capital in which you have a high degree of justified confidence; and second, you must be comfortable holding onto a position that isn’t working and possibly looking stupid, perhaps for years, as you wait for the cycle to turn. That’s enough to humble any mere mortal.”

USAGOLD note:  In other words, successful investing amounts to a leap of faith combined with good amount of patience. . . . .


Repost from 2-25-2019

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