In his classic treatise on education, Emile: or, On Education, Rousseau extols the virtues of a responsible, natural, and deliberate education with a particular emphasis on maintaining one's natural qualities in a corrupt society. Surprising to some, this work, which Rousseau believed to be the "best and most important of all my writings" has parallels to financial markets. This is fitting. Many investors are obsessed with multi-disciplinary training, and often rightly so. Investing could be seen as the ultimate intellectual exercise which incorporates, among other fields: math, psychology, philosophy, and history. Below are points to consider.
On developing an investment thesis:
“The spirit of my education consists not in teaching the child many things, but in never letting anything but accurate and clear ideas enter his brain.”
On financial analysis:
“It is a question not of knowing what is but only of knowing what is useful”
On circle of competence:
"Thus we are reduced to a very small circle relative to the existence of things”
"Take the opposite of the practiced path, and you will almost always do well."
2 comments:
I get a bunch of syntax errors. This particular entry doesn't appear correctly. Is this just my computer?
It's internet explorer. Use Mozilla. At any rate, I've deleted the foonotes.
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