The Most Important Thing: Uncommon Sense For Th... -
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: No asset is so good that it can't be overpriced, and none is so bad it can't be a bargain at the right price. The most important thing: uncommon sense for th...
: The "second-level thinker" asks, "Everyone thinks this is a great company, but is it as great as they think? Is the price too high for the actual value?". AI responses may include mistakes
: Success comes not from being right, but from being right and different from the consensus. The Pendulum and the 2000 Tech Bubble : The "second-level thinker" asks, "Everyone thinks this
: He didn't chase the trend. Instead, he waited for the right opportunity, knowing that "good times teach only bad lessons"—like the idea that investing is easy or risk is gone.
Most people think in a straight line: "This is a great company, I should buy the stock." Marks calls this . He argues that because everyone else sees the same "great company," the price is already high, leaving no room for profit.