One And Done

There’s a financial graveyard of fund managers who made a right call on the market which paid off huge. Maybe it was the housing crisis. Maybe it was the dot com bubble. When it comes to finance, rock star status can be attained with just one right call. It doesn’t matter if the last right call you made was the 1987 crash. Do it once and suddenly, you’re assumed “to know.” In truth, no one knows anything. Markets are random. But we want to believe someone knows so we can turn our money over to them and feel safe. What drives this and why do we treat people who only made one right call in their career like oracles? Tom and Dylan discuss this and more.