I was just reading over Michael J. Burry’s commencement speech to graduates at UCLA, and I came across this passage in his speech that I’d like to share with you:
“Information swarms us. It comforts us. It disrupts us. It’s an Age of Infinite Distraction, for those so willing. You are the generation that has had instant messaging, Facebook, Twitter, and Angry Birds nagging your fingertips at every moment. It’s been arguably as addictive as any other drug throughout history. And I do imagine it took some terrific willpower during your studies to study.”
If I had to make a short list of the things most likely to mess up the execution of a long-term investing strategy, I would dedicate a slot to what I call “information overload.”
“Information overload” is one of those subtle things that can make it incredibly easy to deviate from a long-term strategy. When Mayor … Read the rest of this article!