Intelligence is widely distributed, but the complements to intelligence — things like the ability to sit quietly in a room alone, to not need external validation, to be patient, to be willing to look foolish — those things are much more rare.
I think the most important thing in investing and in life is having the right temperament to deal with uncertainty and the unknown. Most people, when confronted with uncertainty or unknowing, they become fearful, and their decision-making is impaired. The best investors I know are actually energized by uncertainty because they see it as an opportunity.
5mo ago
Underscored — save the words that stop you in your tracks.
