There’s a quote typically attributed to Albert Einstein: “Madness is doing the identical factor again and again and anticipating totally different outcomes.” As an investor, particularly in case you handle another person’s capital, it’s a must to be barely insane.
Throughout market manias, time slows right down to canine years. It’s important to preserve doing the identical (rational) factor however anticipate a distinct end result, figuring out that in some unspecified time in the future it’ll come.
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WHO AM I: Vitaliy Katsenelson is the CEO of Funding Administration Associates (IMA) in 2012. Forbes Journal known as him “The New Benjamin Graham.” He’s written for publications together with Monetary Occasions, Barron’s, Institutional Investor, and International Coverage.
The publish Classes from Historical past’s Expertise Booms – Ep 225 appeared first on The Mental Investor.