The Tragic Comedy of the "Perfect" Investor
In the Paradox of Buridan's Ass: A donkey placed precisely midway between a stack of hay and a pail of water dies of both hunger and thirst because it cannot make a rational decision to choose one over the other. In investing, "analysis paralysis" often leads to missed opportunities. A "good enough" decision executed in time (like buying a quality stock at a fair price) is infinitely better than a "perfect" decision made too late. This paradox is the investor's ultimate trap. We endlessly scrutinize balance sheets, read every analyst report, and wait for the "perfect" market pullback that never comes. While we chase the mirage of absolute certainty, the market moves on. The hay (growth) gets eaten by others, and the water (value) evaporates. Benjamin Graham, the father of value investing, taught that "the investor’s chief problem—and even his worst enemy—is likely to be himself." Graham didn't advocate for the ...