When friends and acquaintances are telling you [that] you are a genius, before you accept their opinion, take a moment to remember what you always thought of their opinions in the past.
Carl IcahnRead
When most investors, including the pros, all agree on something, they're usually wrong.
Interpretation
What this quote means
Consensus among investors can often lead to poor decisions and bad outcomes.
This quote by Carl Icahn underscores the idea that when a majority of investors, even experienced professionals, reach a consensus on a particular investment strategy or opinion, it is often indicative of a misguided approach. The market is inherently unpredictable, and relying on common belief can lead to overlooking unique insights and opportunities that lie outside the norm.
Themes
InvestingConsensusMarketInsightRisk
In practice
Example use cases
During an investment conference when discussing market trends and predictions.
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