QOTD: Trading versus Debating

December 6, 2012 6:15am by Barry Ritholtz

I love this comment from Dynamic Hedges:

“In cable news, debate means two opposing ideologues get equal time to spout bullshit. In trading, opposing views means someone is actually going to be right and someone is actually going to be wrong. Seek out debate and use it to clarify or disprove your thesis. Find people who will challenge your opinions and listen carefully to their arguments. Don’t be afraid to change your mind.”

–10 Tips From the Trenches

That’s the difference between punditry and managing assets — with one, there are tangible results and a scorecard of success or failure; with the other, noise . . .

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