Wheels On A Suitcase
This week was the 7th Annual Cayman Investment Forum hosted by the CFA Society. And by far the best yet. We heard from Denise Shull, the Performance Coach on whom Wendy Rhoades from Billions is believed to be modelled, Daniel Crosby, behavioural finance expert extraordinaire (I have written about him before), famed short-seller Fahmi Quadir and ex-Enron CFO Andrew Fastow.
There were many takeaways. I will write more in coming weeks, but today I want to leave you with one thought that came from Daniel Crosby.
The first wheel is thought to have been invented in 3500 BC.
In 1969 humans managed the extraordinary feat of putting a man on the moon.
It took until 1972 for wheels to be put on a suitcase.
Think about that timeline.
How many simple solutions are we overlooking because we are working on something far too complicated?
In investing, simple almost always beats complex.
Low-cost index funds and ETFs are an investors’ wheels-on-a-suitcase.
Why would you still be lugging that case around? Get the wheels.
“Both governments and universities have done very, very little for innovation and discovery, precisely because, in addition to their blinding rationalism, they look for the complicated, the lurid, the newsworthy, the narrated, the scientistic, and the grandiose, rarely for the wheel on the suitcase.”
Georgie
georgie@libertywealth.ky