I LOVE this thing Phil Huber wrote up about the difference between conventional investors and evidence-based investors. We’re delighted to have our fellow advisors, people like Phil who get it, coming out to the EBI Conference next week.
This is so good:
The Conventional Investor has a hard time distinguishing between luck and skill.
The Evidence Based Investor appreciates that luck plays a larger role in outcomes as the aggregate level of skill increases among market participants.
The Conventional Investor pays a premium to avoid risk.
The Evidence Based Investor earns a premium by taking intelligent risks.
The Conventional Investor loses sleep over what the market might do in the coming days.
The Evidence Based Investor sleeps well at night knowing their portfolio is designed for decades, not days.
Run, don’t walk to read his post.
There might be a few tickets left for the conference but I think we’re well over 200 attendees at this point. Try your luck here: