Wednesday, May 30, 2007
Another Philosophy Graduate
I mentioned that I met a philosophy major working at Safeway here, and I thought I'd mention another that I found today: Carl Icahn. Admittedly, he graduated from Princeton. Today he's worth billions. Philosophy-type people should do well in investing. They can look at the big picture rationally, have the patience to read SEC filings, and, if they study economics, can easily grasp the fundamental concepts of sunk cost and marginal benefits. Then it's buying companies when they're cheap (support) and selling them when they're high (resistance).