Belated birthday Scott!
- “Definition of Withdumb: A quality you possess if you hold a popular and unfounded point of view… I see withdumb most often in the field of investing. Most investment choices are based on nothing more than the knowledge that other people do similar things. Lately I have started to wonder if the science of investing is any better than the science of astrology or the science of not eating a sandwich before swimming. I have a degree in economics and an MBA from a top university and I haven’t seen any convincing evidence that investing is more than a collection of elaborate scams… Someday we might look back at this era and see that what looked like successful investing by individuals was nothing more than correctly guessing the direction that criminals would manipulate the market.”