GuruFocus Updates 13 March 2010 Featured No Comment

By William J. DeRosa, Jr., CFA. Previously I wrote a piece about how discipline is the hardest part of investing. Well the second hardest part may be the ability to think and act independently from the crowd.

Going it alone certainly has its advantages. Standing apart from the crowd gives one a unique perspective provided one has the courage. Being able to assert one’s opinion can be very gratifying indeed. Famed and controversial author Ayn Rand has written extensively about this topic. To paraphrase her words - Most people can accept anything except a person who stands alone. They can forgive criminals and violence. These harsh critics are consumed by fear of the loner. They relish the mutual dependence of the relationship and independence destroys that relationship. However, for the independent spirit there is no dependence. Read more » »