Quote for the Week: The Four Most Important Words in Investing

“When you pretend you know something you don't, your perception of risk becomes warped. You take risks you didn't think existed. You face events you didn't think could occur. Understanding what you don't know, and what you can't know, is way more important than the stuff you actually know. In that sense, the four most important words in investing are probably, ‘I have no idea.’ I have no idea what the market will do next. I have no idea if we'll have a recession this year. I have no idea when interest rates will rise. I have no idea what the Fed will do next. Neither do you. The sooner you admit that, the better.”
~ Morgan Housel


Scott Middleton