Nobody Knows Nothing
“It's tough to make predictions, especially about the future.” ― Yogi Berra
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. “ – Mark Twain
Yogi Berra and Mark Twain.
Two of the most quoted people in the history of humanity.
Chances are if you're reading this, you've likely heard both of the above quotes before. I am far from being the first financial blogger to use them and I certainly won't be the last.
We all nod our heads in agreement when we hear these two quotes, but the truth is we find it much more difficult to actually abide by their intentions.
Frictions can be thought of as anything standing between an investor and their returns. Some frictions we are in control of and others we are not. Taxes, costs, and inflation all come to mind as possible frictions, but perhaps one we face as investors is the deluge of distractions that can cause us to trip over our own two feet.
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