Success Won’t Come from Predicting What Others Think

Dec 1996

As investors, we should strive to remember how uncertain polls and surveys of investors can be.  It remains a big mistake to base our investment decisions on what we think other investors think, even if the source of our information is The Wall Street Journal, NBC, CNN or whatever.  I’m frankly amazed by the number of people who seem ready to jettison sound investment plans simply because they think they’ve read or heard an “authoritative” report to the contrary.  (Of course, we’re thankful these people exist.  They often buy what we sell and sell what we buy.)  When it comes to investment and voting polls, please remember that voting polls are the more accurate.