You can hire your advisor and then just apply a windage factor, like I used to do when I was a rifle shooter. I'd just adjust for so many miles an hour wind. Or you can learn the basic elements of your advisor's trade. You don't have to learn very much, by the way, because if you learn just a little then you can make him explain why he's right.
Charlie MungerThe Internet bubble circa 2000 is the most extreme in modern capitalism. In the 1930s, we had the worst depression in 600 years. Today is almost as extreme in the opposite way.
Charlie MungerOne could imagine a period like Japan13 years ago, however, in which indexing over time wouldn't work.
Charlie MungerStock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
Charlie Munger