Barron’s profiled a hedge fund manager named Jaime Rosenwald who in addition to running his fund he also teaches a graduate level course on value investing at NYU. There was one nugget in there that I thought was interesting and can be applied beyond what is stated;
By definition, most investors can’t beat the market. But market-beating practices can be taught…
We talk a lot about the extent to which many investors engage in what turns out to be self destructive (investment) behavior. At a time like now it is easy to say “of course bear markets happen” or “I can tolerate the ups and downs of the stock market or say you will avoid owning too much of a fad that then sours and implodes. Unfortunately investors panic all too often, do load up on fads that then implode, eschew discipline and generally lose their ability for rational thought when they most need it.
Just as exercising and having a moderate diet will not guarantee good long term health, taking the time to learn what the right things are and then making the effort to do the right things gives you a better chance of reaching your objective whether it is good health, a successful financial plan, hopefully both and hopefully a couple of other objectives in life.