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Monday 18 April 2011

Education.


In the late 1990s, Long Term Capital Management found out the hard way that educational pedigree and mathematical genius (even with a Nobel Prize) is no match for the market—demonstrating that theories and the real world can decouple in a very ugly way.



The stock market does not care how educated you are or whether you have a PhD.  In the market, we all go back to the grade one and have to learn and earn our way to the top. If you've made up your mind you can do something, you're absolutely right.

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