You’ll notice that not every article I post on the site is specifically finance related. I like to find ideas, concepts, and theories in all forms and places. This article I pulled from the Big Picture site which comes from The New Yorker written by Malcom Gladwell who most of you may know from his books The Tipping Point or Blink. His article "How David Beats Goliath" documents how underdogs win when they break the rules. He cites a statistic that Goliath beats David 71.5% of all wars fought in the past 200 years. However when David “acknowledge there weakness and choose an unconventional strategy there winning percentage increases from 28.5% to 63.6%.
Being the smallest of small firms I can totally relate to David going up against the Wall Street behemoths. The one outstanding point that I take away from this article for both DWCM and for all of you individual investors out there is “we tell ourselves that skill is the precious resource and effort is the commodity. It’s the other way around. Effort can trump ability – because relentless effort is in fact something rarer than the ability to engage in some finely tuned act of motor coordination.”
Understanding what your opponents’ strengths and weaknesses are and pitting your strengths against their weaknesses no matter how unconventional can lead to extraordinary results.
No comments:
Post a Comment