"In fictions, willing suspension of disbelief adds to our enjoyment. When we watch Peter Pan, we don't want to hear the person sitting next to us say, 'I can see the wires' (even though we know they're there). While we know boys can't fly, we don't care; we're just there for the fun.
But our purpose in investing is serious, not fun, and we must constantly be on the lookout for things that can't work in real life. In short, the process of investing requires a strong dose of disbelief ....Inadequate skepticism contributes to investment losses. Time and time again, the postmortems of financial debacles include two classic phrases: 'It was too good to be true' and 'What were they thinking?'"
-- Howard Marks, 10-17-2005
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