By Malcolm Stacey | Sunday 22 March 2015
Ineffectual investors follow the herd. The crowd may be right some of the time, as they're all following the same obvious pointers to success. But if everybody is correct about a situation, and puts their mouth where everybody else's is, profits won't be worth hollering about. It's a bit like everyone being guided by current form to pick draws on a football coupon. If the chosen teams all draw, everyone wins the pools, but the cash prizes are laughable. It's only by being right when most folk are up the creek that you can ever hope to win enough for a private island, a Rolls Royce and a small jet.
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