[quote=sdrealtor][quote=Coronita]I am sure i am wrong some of the time.

Murphy law of investing:

The correct decision often times seem to be the decision I did not take after trying to rationalize the decision I did take as the most intuitive decision….

My Solution:

Therefore, if i continue to do the exact same thing in rationalizing every investment decision I make, but for 50% of the time, do exactly the opposite of what I would have done, then on average, I probably will be correct 25-50% of the time instead of being consistently 100% wrong.

Corrollary to this: as smart as engineers like to think we are, there are a lot less nerdie people in this world that have made a lot more money making irrationale decisions versus our tendency of analysis to paralysis and doing nothing in the end…

Some of you guys need to do something crazy..like buy dogecoins…makes no sense whatsoever…but thats exactly the point….[/quote]

That’s the George Costanza strategy. Think what you want to do, then do the opposite!

And you’ve come upon my nitwit theory I’ve explained to countless clients. Prices are not set by the smartest people they are set by the richest nitwit. Then the smart people end up paying that and more[/quote]

Is it untrue that a fool and his money are soon parted?

I suspect there may be fine distinctions in economic behavior between fools, nitwits and morons. Like, some idiocy is desirable, while others is not.

Theory might apply in politics, too. Policy is set by the richest nitwit.