Wisdom from Famed Value Guy

Jeremy Grantham:

The central truth of the investment business is that investment behavior is driven by career risk. In the professional investment business we are all agents, managing other peoples’ money. The prime directive, as Keynes knew so well, is first and last to keep your job. To do this, he explained that you must never, ever be wrong on your own. To prevent this calamity, professional investors pay ruthless attention to what other investors in general are doing. The great majority “go with the flow,” either completely or partially.

True. Not wise when the outliers hit.

Tagged with: , ,
Posted in Trading 101
One comment on “Wisdom from Famed Value Guy

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Michael Covel Books

Underground Insights

Subscribe now to my free email newsletter and get the latest blog posts, podcast episodes and special offers delivered to your in box:
Click Here.

Pricing for trend following systems, risk management, trading psychology and black swan strategies. Absolute return systems and education for brand new traders and established pros. Thousands of clients across 70+ countries. Client testimonials.

The Trend Following™ podcast with Michael Covel. Listen now on iTunes and Android. Top authors and traders plus alternative commentary. 1M+ listens across 160+ countries & territories.

Free Video

One small town guy's trend following experience sent to your home. Get your free video delivered immediately and be inspired.

Trend Trading