This seems to apply to more than investing. It's why it's better to be a foolish-seeming optimist than a clever cynic.
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If the optimist is right, he gets the further advantages of applying the idea. The cynic only gets to say "I told you so."
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Optimism compounds better than cynicism.
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This analysis is complicated somewhat by the large number of broke optimists and well-off (if not wealthy) cynics. Cynicism is safer.
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Broad cynicism won't get you up in the morning to risk and do something. (I'm still in the long process of shedding my own.)
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Don't get me wrong; I think most cynics are miserable compared to the optimists. But it can be hard being an optimist.
End of conversation
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agree: that said, if you want to understand the pov of a "good" short seller: Chanos. https://ftalphaville.ft.com/2016/04/25/2160002/podcast-jim-chanos-on-the-art-of-short-selling/ …
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optimists have unlimited upside (call option) whereas pessimists have capped (put). Why call options price higher than puts.
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@ashfontana this is the biggest confusion.... Buffet suggests to be "unenthusiastic...boring" ???Thanks. Twitter will use this to make your timeline better. UndoUndo
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tell that to Nokia. Blackberry.
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optimists go and grow with life in general, pessimist go and win on specific growth failures, which are destructive but scares!
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