When large countries go to war against countries that are many times
smaller than them, it seems obvious that the larger nation would almost
always win -- but that's not the case.
According to a study cited in Malcolm Gladwell's latest book David and Goliath,
throughout all of the wars fought over the last 200 years, the weaker
country has prevailed in nearly 30% of the conflicts. And if the weaker
country chose to fight an unconventional war, its success rate shot up
to 63.6%.
For the individual investor who thinks he's at a disadvantage to
hedge funds and other institutional investors on Wall Street, this is an
apt and powerful metaphor. And if you believe some of the world's most
successful investors, there's truth to it as well.(more)
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