Dallas Salazar
IPOs, contrarian, long/short equity, long-term horizon

Independence Contract Drilling: An Energy-Technology Hybrid

Recently I read an article on BusinessInsider.com entitled, "REMINDER: You Are Shockingly Terrible At Investing," that was quite eye-opening. The article detailed, based on research and statistical gathering, how the "average" investor (the study utilized the net of aggregate mutual fund sales, redemptions, and exchanges each month as a measure of investor behavior) underperformed all major asset categories except Asian emerging market and Japanese equities over the last 20 years. It went further to describe this phenomenon as largely resulting from the average investor being too short-sighted and too emotional in times when the markets are at the far ends of the spectrum - doing either really well or really bad. As a matter of fact, the average investor even...

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