Eradicating Envy from Your Life Sound Investment Advice on Skepticism

Remain a Pessimist and Not a Believer

When I started in research, I had one of the worst character traits an investor can have – I was a “believer.” I was too often seduced by charismatic CEOs and by concept stocks, where the product or service made a lot of sense but there turned out to be cost, competitive or other reasons it would never succeed. I learned the hard way to be a skeptic about management’s – and my own – ability to forecast with precision well into the future.