Education is something we are supposed to get in school (and college). However, the more "educated" investors meet, the more I come to suspect this. It's like what 'Rancho' in the film 3 idiots says, circus tigers are called well-trained, not well educated. I guess, the education system, the world over focuses on producing a plethora of well-trained people. The genesis for that, I suppose, dates back to creating workers for industrial factories.
What is really needed in life and in investing is multi-disciplinary learning. Learning and correlating various subjects and finding their real-life uses. Subjects that really help an investor is basic mathematics, algebra, probability, logic, philosophy, history and very importantly psychology. Unfortunatley, colleges that turn out MBAs teach very little of this. Arcane academic theories are as useful to an investor as a wooden stick to a tiger hunter in a dense forest - it's just not useful enough.
As Charlie Munger says, for an investor, it is imperative that he goes to bed to sleep in the night with a little more knowledge than he woke up with.
What is really needed in life and in investing is multi-disciplinary learning. Learning and correlating various subjects and finding their real-life uses. Subjects that really help an investor is basic mathematics, algebra, probability, logic, philosophy, history and very importantly psychology. Unfortunatley, colleges that turn out MBAs teach very little of this. Arcane academic theories are as useful to an investor as a wooden stick to a tiger hunter in a dense forest - it's just not useful enough.
As Charlie Munger says, for an investor, it is imperative that he goes to bed to sleep in the night with a little more knowledge than he woke up with.
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