The ‘greatest investor of all time’ – Nobel-Prize winner Harry Markowitz, has one — and only one — word of advice: “And if I had to offer a second piece of advice, it would be: Remember that the future will not necessarily be like the past. Therefore we should diversify.”
Cullen Roche, Founder of Orcam Financial, the man behind the Pragmatic Capitalism Blog, believed that ““But the greatest investors are not merely those whose performance was outstanding, but those people who constructed a process by which more people outperformed thanks to the lessons they provided.”
What about Warren Buffet?
“I have found much of Buffett’s commentary to be contradictory,” he wrote. “For instance, he berates active stock pickers, but continues to be an active stock picker. He berates high fee managers, but spent most of the early years of his partnership charging very high fees. It’s hard for me to tell what he really believes when his actions don’t always support his words.”