|
|
|
|
Don't follow the herd
Professor of economics, Yale University
My teacher in graduate school at MIT in 1970, Charles Poor Kindleberger, who later wrote "Manias, Panics, and Crashes," first convinced me of the social process that drives much of what goes on in speculative markets. One needs to think antisocially to excel in investing, to resist the patterns of thinking that seem mysteriously to arrive simultaneously in the minds of millions of people around the world.
People do not trust their own judgment but go along with the crowd, even when they can see truth. In a world populated with such people, there are investing opportunities for people who make the effort and do the work see clearly for themselves.
NEXT: Do what you love
Last updated July 22 2008: 11:27 AM ET
RSSMore Galleries
Here are the 5 metro areas where the average American family can afford to purchase a median-priced home -- and the 5 where they can't. More
In March, CNNMoney profiled people making personal sacrifices to help others during the recession. Did their efforts pay off? CNNMoney checks in. More
An early peek at holiday ad circulars shows that post-Thanksgiving shoppers can score crazy deals -- like an LCD HDTV for half price, or a Nikon camera marked down 40%. More
Special Offer
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Intraday data is at least 20-minutes delayed. All times are ET. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Morningstar, Inc.. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
