

A Back to Basics Weekend With Warren Buffett  - blang
http://www.nytimes.com/2009/05/05/business/05sorkin.html?_r=1&ref=business

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nazgulnarsil
my financial advice: stop worshiping statistical outliers and start studying
the average millionaire.

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ewanmcteagle
Buffett's argument is that he's not a statistical outlier. That others who
have taken his approach to investing have also been able to achieve larger
than expected gains over time.

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nazgulnarsil
I'm not saying buffet isn't a good example to follow. but the reason he's a
good example to follow doesn't stem from his huge success. I'm addressing the
underlying error in thinking. It's like religion. Religion in general isn't
the problem, it's a symptom of the underlying issue that people accept wild
claims without evidence. Here too I'm sure a lot of people see Buffet's
success and accept what he says without closely examining the claims.

You might ask "what's the point of seeking advice from people more
knowledgeable than you if you judge the advice by your own inferior metrics?"

that's a whole 'nother discussion.

