The truth is that sloth had far more to do with the financial crisis than greed. Analysts got lazy. They stopped doing their jobs and were asleep at the switch.
Iron Capital is a living, breathing firm, and it must grow so that its employees can grow. People need raises, healthcare costs rise – everything is always going up, so we as a firm must grow as well. How do we do so if we don’t have salespeople? I have always believed that if we take care of our clients, then they will take care of us. So we focus entirely on taking care of our clients.
Henry Ford did not invent the car; what he invented was so much more important than that. This is the power of capitalism: It is a constant process of making the luxuries of our time more accessible. So why does capitalism get such a bad reputation?
The investing world is chock full of clichés. A recent commercial recited one of the more nonsensical clichés of our industry: “He didn’t plan to fail, he failed to plan.” Come to XYZ financial and we will create a plan that works for you. In the words of Fluffy Watts, what a crock.
Understanding the psychology of the market can be a great tool, especially when added to a scientific approach. Investing is part science and part art; it is not 100 percent either of those things, and do not let anyone convince you otherwise.
