I am my own contrarian indicator.
Whatever conclusion I draw, I invariably do the opposite. I do it consciously with the conviction that anything I would think is so correlated with the herd that it has to be disastrously wrongheaded.
So I'm loaded up with stocks and mutual funds. Because I decided that staying in cash is what everybody is doing, so I'll do the opposite. So if that's what I do, how right could it be?
The real secret of my success is patience and time. I stick with my mistakes until they pay off.
Sunday, March 30, 2008
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