Michel Pireu Columnist

Temperament has the power to accelerate or demolish all efforts. It doesn’t matter how intelligent you are, how much knowledge you have, how deep your wisdom, or how powerful your discernment, if you have a temperament that inclines you to taking unnecessary risks, it is only a matter of time before you fail. Overcoming one's personality and innate physiologic responses to stress is difficult to accomplish; however, it is a task that must be fulfilled if an investor hopes to achieve long-term success in the market. – Joshua Kennon

Investors with ordinary intelligence will outperform investors with much higher IQs, so long as they possess superior investing temperaments. Temperament affects so much, yet we rarely give it thought. You need a temperament that controls the urges that get other people into trouble. There is a long list of things that get people into trouble … you need a temperament that neither derives pleasure from being with the crowd or against the crowd. The te...

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