Links of Interest – September 23, 2011

WealthTrack Interview Transcript with Bruce Berkowitz

You Are Not as Dumb as You Think | Vitaliy Katsenelson Contrarian Edge – Good article from Katsenelson on staying disciplined and not confusing luck and skill.

Berkshire Hathaway Is Now Traded at the Lowest Valuation in Decades

While I’m at it…
It is times like these that the game moves from the locker room (read: theoretical) to the playing field. It is simple but not easy. Humility is required. Fear amplifies the importance of conviction borne of independent thinking. Stay disciplined. Don’t speculate. Sins of omission can be costly but are cheaper than permanent loss of capital. There are many ways to financial heaven, you only need a handful of things you truly understand to be successful. Isolate the variables that make a difference and quantify them. Don’t rely on journalists or pundits to do it for you. Finally, don’t rely on opinions: others may know less than you think and/or have incentives that run counter to your best interests.

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