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Most investors compete against the wrong people. Instead of trying to beat elite traders and Ivy League analysts, focus on the 99% of investors playing a different game, where you can find advantages in neglected niches.
Most investors compete against the wrong people. Instead of trying to beat elite traders and Ivy League analysts, focus on the 99% of investors playing a different game, where you can find advantages in neglected niches.
Here's what you have to determine as an investor, because we can't all be Warren Buffett, right? Who do you want to compete with? I always say it's really not important for you to be smart, but it's important for you to figure out how to be smart in a totally different way than others. So do you want to go and compete with the top mathematicians in the world as a technical trader? Do you want to compete with just droves and droves of Wharton and Harvard grads who are doing financial analysis, But let's be honest, I'll even say 99% of us probably don't fit into one of those two camps. So how could the rest of us get an edge on Wall Street? How could the 99% figure out a way to outperform others in the market? So you have to look for edge in a place where your competition, and your competition being conventional institutional and retail investors, are not willing to go.
