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  • Writer's pictureTim

The Crowd

It’s popular today to talk about the wisdom of crowds. On same level I believe that’s right. You can’t build something in an isolated lab without eventually throwing it out to others for their review.

At the same time you have to know when to walk away from opinion. Many will tell you how to do it, why to do it, which people you should try and please blah blah blah……

In the end the only opinion that matters is your own. You have to steer away from the noise and march in the direction that your gut tells you.

One of my favorite NYSE traders would always sit and listen carefully as I talked about what I had read and what I had heard and then he would say “I don’t want that bullshit, what does your GUT tell you?” In no fancy terms he was demanding that I think for myself and provide my opinion accordingly.

Whenever I feel myself getting caught up in what others are telling me I hear my friend’s words come back to me.

It’s never bad to know what the crowd is saying. It’s just better to know when to walk away from it.

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