I mentioned Gene Hoots’ book Pay Attention to the Thin Cow a few weeks ago. Below is excerpt from the
book, explaining the title.
“My grandfather
once asked my uncle Ken, “Why do you pay so little attention to the advice of
others?” Kenneth answered, “Because I am the only one that I’m certain is
working for me ALL the time.” He was skeptical about advice,
experts of every ilk, and especially politicians. No one was more widely liked
than my uncle.
He made a
living for over sixty years as a farmer and cattle trader. He was a true
contrarian. He told me that at cattle auctions, most people buy the fat, slick
cattle – they look healthy and prosperous, and they are priced accordingly. He
always bought sickly looking, thin cows. He said there was nothing he could do
to improve the fat ones, but he had a fair chance of improving the prospects of
the thin ones and selling them for a profit. Investors would be well advised to
use his approach in searching for stocks.” –Gene Hoots, Pay Attention to the Thin Cow
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