My new blog post "Lessons from Jim O’Shaughnessy (the Chairman and Chief Investment Officer of O’Shaughnessy Asset Management)" is now up at 25iq.com/2018/07/21/les… I don't think I have ever made so many changes in the hour before I clicked on the "publish" button.
"The majority of active stock market investors—both professional and aficionado—will secretly believe that while these human foibles that make investing hard apply to others, they don’t apply to them.” Jim O’Shaughnessy. As Charlie Munger says, "That's where the trouble starts."
“It is the emotional side of investing that destroys even the greatest minds. If you can’t master your emotions all the data in the world can’t save you.” “If my goal is to do better than the market, my investment portfolio must look very different than the market." O’Shaughnessy
“Approaches like buying an index based on the S&P 500 are strategies. The strategy is: buy big stocks based on market capitalization. We have found there are very many other factors that work significantly better than ‘buy big stocks based on market capitalization.” O’Shaughnessy
"The challenge is by definition our portfolios are very different from the benchmark of the S&P 500.” "If you don’t have the discipline to stick with your strategy, factor investing won’t help you.” O’Shaughnessy.
