3 lessons to incorporate into your investment approach
He who loves practice without theory is like a sailor who boards ship without a rudder and compass and never knows where he may cast.
– Leonardo da Vinci
The Oxford Dictionary defines an ivory tower as “a state of privileged seclusion or separation from the facts and practicalities of the real world.” Teddy Roosevelt famously told us that “it is not critic that counts” but that “the credit belongs to the man who is actually in the arena.”
I talk to a lot of investors and there is almost universal disdain for academic theories of investing. Many of these critics touch on the same points outlined in both the definition of an ivory tower and Roosevelt’s view that what counts is the practitioner in the trenches.
I am always…
