06/01/2024
Misunderstood Profession
At a student Q&A, Buffett was asked what surprises him the most.
He replied pointing to Bill Gates who was standing next to him:
"People look at Bill Gates and think they can't do what he did. They look at me and think they can do what I did"
For some reason, everyone believes they can manage their money proficiently even though history has a completely different story which says that while "investment" returns have been spectacular, "investors" have returned empty handed or abysmally little to talk about.
Perhaps the art of money management is misunderstood as a science.
1) Money management is to do a lot with undefined patterns that is harnessed by years of experience.
2) Money management is about taking action but also largely also about inaction. Money management is a lot about doing nothing and letting "boredom" win the battle for "patience" to win the war
3) Money management is more a science of human psychology and behaviour managment than a science of statistics that people believe algorithms/robots can conquer.
It is an irony that one assumes that "reading the offer document" is all that is needed to become an investor.
If a document and a TV channel could make investors proficient then all one would need would be a similar document and TV channel to manufacture successful doctors.
The truth is that even a doctor becomes proficient, not by earning his or her degree but because of years of experience of seeing countless patients.
As regards "malpractices", the perpetrators of the same should to be booked but then one also needs to understand that "exceptions" cannot be turned into the pen that writes the rules for the rest.
Name: Utsav Shah
Firm Name: ATUL SHAH VIPUL SHAH UTSAV SHAH
Mobile: 9426331088
Email: [email protected]
