Saturday, August 16, 2014

Sentences I Didn't Expect to See

From Ken Fisher's The Only Three Questions that Still Count: Investing by Knowing What Others Don't:
Finance Theory is quite clear the only rational basis for placing a market bet is if you believe somehow, some way, you know something others don't know. The only question that counts is: What do you know that others don't?... 
Markets are pretty efficient at pricing all currently known information into today's prices.... Instead, it's surprise that moves the markets (pages x-xi).
These are not sentences I was expecting to see in a book by a billionaire fund manager.


So why is the book "The Only Three Questions that Still Count" instead of "The Only Question that Counts"? Fisher breaks the "only" question into three parts in order to develop a method to answer it: 1) What do you believe that is actually false? 2) What can you fathom that others find unfathomable? and 3) What the heck is my brain doing to blindside me now?

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