A particularly successful person in his stock picking career told me recently when I asked him how did he do what he did so successfully?


He replied:

"Trends in businesses are often driven by herd mentality and confidence keeps it afloat.

Take the confidence away and trends sink fast as the herd rushes and crushes the things along the way to get out. Very fast... to move into the next big thing."


It's his last 2 words that got stuck to my mind most.

"That's life."