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My latest Street.com column, "The Importance of Flexible Convictions" is up at RM. Its loosely based on Prove Me Wrong from earlier this week.
Here’s an excerpt:
‘One of the keys to successful investing is maintaining a high degree of intellectual flexibility. Good traders can turn on a dime, because they never "marry" any single position. The surest way to lose money is to get overly enamored of any one idea or philosophy.
As a person who studies markets, it’s my goal to remain ideologically agnostic. That doesn’t mean I’m neutral or lacking in viewpoints (longtime readers know that I can be all too opinionated). Rather, it’s a recognition that if and when the evidence warrants doing so, I am prepared to toss aside any of my beliefs at a moment’s notice . . ."
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UPDATE: January 13, 2005 3:05pm
The article was released in full on MSN Money –no sub required
http://moneycentral.msn.com/content/P104981.asp
