1. Warren Buffett’s best returns were achieved when markets were much less competitive. It’s doubtful anyone will ever match his 50-year record.
2. The majority of market news is not only useless, but also harmful to your financial health.
3. The more someone is on TV, the less likely his or her predictions are to come true. (U.C. Berkeley psychologist Phil Tetlock has data on this).
4. Related: Trust no one who is on CNBC more than twice a week.
5. The market doesn’t care how much you paid for a stock. Or your house. Or what you think is a “fair” price.
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