A Quote by Robert L. Bartley
In general, 'the market' is smarter than the smartest of its individual participants.
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Of the two smartest creatures on the earth, man and the dolphin, each thought they were smarter than the other. Man thought he was smarter because he built many things and did much work, while the dolphins just played all day. The dolphins thought they were smarter for the same reason.
Another person who's smarter than I. What a relief to not have to be the smartest guy anymore.
However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.
I actually worked in the general market for many years writing steamy historical romance, and I had more freedom in the Christian market than I ever did in the general market to write about any issue that I needed to write about.
Under the right circumstances, groups are remarkably smart - smarter even sometimes than the smartest people in them.
I try to surround myself with people smarter than me - if I'm the smartest guy in the room, I change rooms.
A good leader is always looking for people smarter and more experienced than they are. If you are the smartest one in the room, then you are stupid.
My philosophy is to always find the smartest people you can. Hire people smarter than you.
One of the great things about a free market is that it's inherently and indefatigably Darwinistic. Left to its own devices, a free market will eventually weed out the stupid from both 'ends' of the food chain otherwise described as supply and demand. As money is liberated from the hands of the stupid, those who would sell products or services to the stupid will eventually lose their share of the marketplace. Devoid of any 'benevolent' interference from government, the process is gloriously relentless, and cannot help but yield a successively smarter class of participants.
If you have the ability to work with people smarter than you, always try to be the least smartest person in the room and surround yourself with talent, because iron sharpens iron.
The technical explanation is that the market-sensitive risk models used by thousands of market participants work on the assumption that each user is the only person using them.
we have complaints that institutional dominance of the stock market has put 'the small investor at a disadvantage because he can't compete with the trust companies' huge resources, etc. The facts are quite the opposite. It may be that the institutions are better equipped than the individual to speculate in the market.But I am convinced that an individual investor with sound principles, and soundly advised, can do distinctly better over the long pull than large institutions.
Greg Gutfeld is funnier than all the smart people I know, and smarter than all the funny people I know. I don't know what that makes him. But one of the smartest, funniest people I know, is fair to say.
It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.
Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks.
I'm a lot smarter and thoughtful of a comedian. This market is different than it was. You don't have to have cable to hear this comedy. It comes on a basic channel, and that's one of the biggest differences between now than when I first started.
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