Abnormal Returns CrowdSourced Blogger Investing Survey

The King of Curation, Tadas @ AbnormalReturns, has put together a great survey of a number of influential financial bloggers and me (get it? self zzzzzinger).  Tadas asked 5 questions, and compiled the results of each question in a daily post last week.  I have pulled my answers into this post, so that you can ridicule me and argue with me as you see fit.  Of course, you should click on the links and see how the others responded.

1) “If you had a son or daughter just beginning to invest, what would you tell them to do to best prepare themselves for a lifetime of good investing?

my answer: “Do your own work.  Don’t take shortcuts.  Seek out conflicting opinions not conforming opinions.”

other response that I liked: “Jay (MarketFolly): Take emotion out of the equation.  If you can think and act rationally when others do not, that’s an advantage.  Never stop learning… the best investors will tell you that investing is a continual education.”

2) “In the past year what book, article or blog post changed the way you think about an important topic? (Need not be investment-related.)

my answer: “Peter Brandt’s unemotional posts on technical trading and his ability to change his view as the data changes.  Don’t be stubborn – adapt to data that affects your thesis.”

3) “If you could work, without pay, with any investor or trader for one year, who would it be?

my answer: “Steve Wynn.  He’s probably not the kind of “investor” that most people thought of in answering this question, but his mastery of his industry and clear explanations make for the kind of teacher who I think I could learn a crapload from.”

4) “What piece of wisdom or advice do you most wish you had ignored?

my answer: “Any hot tip – there are no shortcuts, no matter how tempting they seem.”

other response that I liked: “Steven Place (InvestingWithOptions): That you have to be involved in the market 24/7. It’s very similar to weightlifting. If you try and go all out for 6 months, you’re going to get injured and not progress as much as you like. Instead, you need to plan “deload” weeks with lighter weight and more rehab. Same is true of markets. If you’re reading reports and ripping through charts 7 days a week, you’re going to get burned out.”

5) “What asset (stock, fund, etc.) would you feel most comfortable buying and holding for the next ten years?

my response: “If you put a gun to my head, I’d say $SPY. Otherwise, I’d decline to answer.  Or maybe I’d say “cash.””

-KD

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