Andy Kessler, author and former hedge-fund manager, opines regularly on the op-ed page of the Wall Street Journal. From his piece in the Journal August 28, here’s his nut graph on how to do it:
The trick … is to drink from the fire hose of information, take it all in, figure out what everyone else knows and then position your portfolio to benefit when everyone else is inevitably wrong. This is no simple feat. Sleepless nights, second guessing, minds racing, almost a split personality working out both sides of all arguments.