I think there's a lot of conformity bias in investing and in life generally. If you look at most investment committees, most investment letters, most investment frameworks, they look the same. And I think that there's a reason for that — it's career protection. If you're wrong and you're wrong the way everyone else is wrong, then you're not singled out.
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The chains of habit are too light to be felt until they are too heavy to be broken. Most people don't recognize the institutional imperative at work — the tendency of organizations to mindlessly imitate whatever peers are doing, regardless of whether it makes sense.
Warren Buffett — Berkshire Hathaway Annual Shareholder Letter
It is not what the man of science believes that distinguishes him, but how and why he believes it. His beliefs are tentative, not dogmatic; they are based on evidence, not on authority or intuition.
Bertrand Russell — Free Thought and Official Propaganda
The stock market is filled with individuals who know the price of everything, but the value of nothing. A great company is not a great investment if you pay too much for it — and a mediocre company can be a fine investment if you buy it cheaply enough.
Philip Fisher — Common Stocks and Uncommon Profits