True genius resides in the capacity for evaluation of uncertain, hazardous, and conflicting information.
-Winston Churchill
I don't know whether Churchill was a good investor. He always had money problems and was forced to write to pay the bills earlier in his life, but he does seem to understand the essence of what it takes to be a good investment manager.
Perhaps those who find investment management difficult and have failed at different times better understand the genius of investment management. The genius is learning not to be over-confident about the what can be understood from conflicting information. There is genius with saying you don't know or that you are confused and having the courage to step-away from taking risks. May everyone show genius with the uncertainty of 2016.
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