Best Advice

Do what you love

Dean Kamen. Segway inventor

Kamen’s father was an artist who loved what he did and would sit at his board 12 hours a day. When Kamen asked him why other fathers had time after work to play ball or sit around, while he was always working his father said "Those fathers are doctors, lawyers, and bankers. When they come home, all they want to do is their hobby. My work and my hobby are the same. Find work in something you love and it won't feel like work."

Robert Shiller. Professor of Economics, Yale University

Shiller says that a teacher in graduate school at MIT, Charles Poor Kindleberger, first convinced him of the social process that drives much of what goes on in speculative markets. One needs to think antisocially to excel in investing, to resist the patterns of thinking that seem mysteriously to arrive simultaneously in the minds of millions of people around the world.

People do not trust their own judgment but go along with the crowd, even when they can see truth. In a world populated with such people, there are investing opportunities for people who make the effort and do the work.