--- title: "Meaning & Key Takeaway of: My experience is that very few people…" description: "\"My experience is that very few people have what it takes to be a successful investor, as I discussed in The Arrogance of Stock Picking.\" — Whitney Tilson" image: "https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg" --- # My experience is that very few people have what it takes… ![“My experience is that very few people have what it takes to be a successful investor, as I discussed in The Arrogance of Stock Picking.” quote by Whitney Tilson](https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg) [Download](https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg) [Open image](https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg) > “My experience is that very few people have what it takes to be a successful investor, as I discussed in The Arrogance of Stock Picking.” [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Successful investing requires rare traits, implying that most lack the necessary skills or mindset. **In simple terms:** Few possess the traits to succeed in investing. Key Takeaway Develop the rare traits for success. Themes finance skill rarity success self‑assessment Mood analytical pragmatic inspirational Type advice professional When to use this quote - career advice - financial planning - personal development Key Concepts investment psychology talent risk assessment discipline Practical Applications - May discount learning opportunities. Questions to Reflect On - How can one cultivate these traits? A Different Perspective What traits differentiate top investors? ★ ★ ★ ★ ★ No ratings yet [Arrogance](https://sms4smile.com/quotes/about/arrogance/) [Arrogance Stock](https://sms4smile.com/quotes/about/arrogance-stock-1622823/) [Customer](https://sms4smile.com/quotes/about/customer/) [Discussed Arrogance](https://sms4smile.com/quotes/about/discussed-arrogance-1622824/) [Experience](https://sms4smile.com/quotes/about/experience/) [Investing](https://sms4smile.com/quotes/about/investing/) [People](https://sms4smile.com/quotes/about/people/) [Stock Picking](https://sms4smile.com/quotes/about/stock-picking-871948/) [Successful Investor](https://sms4smile.com/quotes/about/successful-investor-242905/) [Takes](https://sms4smile.com/quotes/about/takes/) ## Related quotes > [Independent thinking is not just helpful in becoming a successful investor, it’s required.](https://sms4smile.com/quotes/whitney-tilson/independent-thinking-is-not-just-helpful-in-becoming-a-successful/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [One can't be a successful investor without a healthy dose of confidence. To commit your own and others' hard-earned capital requires conviction, and conviction…](https://sms4smile.com/quotes/whitney-tilson/one-can-t-be-a-successful-investor-without-a-healthy-dose-of/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [The question has to be asked: Why do we exist? Each firm has to answer that question in a way that is authentic to…](https://sms4smile.com/quotes/peter-fenton/the-question-has-to-be-asked-why-do-we-exist-each-firm-has-to-answer/) [Peter Fenton](https://sms4smile.com/quotes/author/peter-fenton/) > [The stock market has gone up and if you are stock picking, that's fine, you may do a bit better than the market. But…](https://sms4smile.com/quotes/kevin-kinsella/the-stock-market-has-gone-up-and-if-you-are-stock-picking-that-s-fine/) [Kevin Kinsella](https://sms4smile.com/quotes/author/kevin-kinsella/) > [Here is a dirty little secret: Stock-picking is wildly overrated. Sure, it makes for great cocktail party chatter, and what is more fun than…](https://sms4smile.com/quotes/barry-ritholtz/here-is-a-dirty-little-secret-stock-picking-is-wildly-overrated-sure/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Mutual fund manager performance does not persist and the return of stock picking is zero.](https://sms4smile.com/quotes/william-j-bernstein/mutual-fund-manager-performance-does-not-persist-and-the-return-of/) [William J. Bernstein](https://sms4smile.com/quotes/author/william-j-bernstein/) > [The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will…](https://sms4smile.com/quotes/alan-greenspan/the-probability-of-ten-consecutive-heads-is-0-1-percent-thus-when-you/) [Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/) > [Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to…](https://sms4smile.com/quotes/holman-w-jenkins-jr/will-customers-keep-supporting-the-enormous-overhead-required-to/) [Holman W. Jenkins, Jr](https://sms4smile.com/quotes/author/holman-w-jenkins-jr/) > [Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.](https://sms4smile.com/quotes/charlie-munger/stock-picking-is-like-gambling-those-who-win-well-seldom-bet-but-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Whenever you have the kind of market that is taking shape now - a wildly volatile one with big pricing discrepancies - it plays…](https://sms4smile.com/quotes/james-russell-lowell/whenever-you-have-the-kind-of-market-that-is-taking-shape-now-a/) [James Russell Lowell](https://sms4smile.com/quotes/author/james-russell-lowell/) > [I have never for a minute felt in was my stock picking abilities. I feel that my stock picking abilities aided- I was able…](https://sms4smile.com/quotes/jim-cramer/i-have-never-for-a-minute-felt-in-was-my-stock-picking-abilities-i/) [Jim Cramer](https://sms4smile.com/quotes/author/jim-cramer/) > [The ability to change one's mind is probably a key characteristic of the successful investor. Dogmatic and rigid personalities rarely, if ever, succeed in…](https://sms4smile.com/quotes/jack-d-schwager/the-ability-to-change-one-s-mind-is-probably-a-key-characteristic-of/) [Jack D. Schwager](https://sms4smile.com/quotes/author/jack-d-schwager/) > [“In order to be a successful Investor you have to think positive, believe in yourself, and never give up!”](https://sms4smile.com/quotes/monica-breckenridge/in-order-to-be-a-successful-investor-you-have-to-think-positive/) [Monica Breckenridge](https://sms4smile.com/quotes/author/monica-breckenridge/) > [The key to investment success is emotional discipline. Making money has nothing to do with intelligence. To be a successful investor, you have to…](https://sms4smile.com/quotes/victor-sperandeo/the-key-to-investment-success-is-emotional-discipline-making-money/) [Victor Sperandeo](https://sms4smile.com/quotes/author/victor-sperandeo/) > [I have a bad rote memory, but I tend to learn through my experiences. And then when I went into the markets, and then…](https://sms4smile.com/quotes/ray-dalio/i-have-a-bad-rote-memory-but-i-tend-to-learn-through-my-experiences/) [Ray Dalio](https://sms4smile.com/quotes/author/ray-dalio/) ## More by Whitney Tilson > [The exact details of how you practice value investing will vary investor to investor, but the fundamental principle of scouring the world, looking for…](https://sms4smile.com/quotes/whitney-tilson/the-exact-details-of-how-you-practice-value-investing-will-vary/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [If you look at the history of technology gadget makers, hardware makers, it's littered with the corpses of Palm and RIM and companies like…](https://sms4smile.com/quotes/whitney-tilson/if-you-look-at-the-history-of-technology-gadget-makers-hardware/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [Mueller is the leading North American provider of water infrastructure and flow control products - things such as fire hydrants, valves, pipes, fittings, and…](https://sms4smile.com/quotes/whitney-tilson/mueller-is-the-leading-north-american-provider-of-water/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [When it comes to owning stocks of the best-known businesses in the world, value investors usually feel like children looking through the window of…](https://sms4smile.com/quotes/whitney-tilson/when-it-comes-to-owning-stocks-of-the-best-known-businesses-in-the/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [The mark of a wise person isn't never making mistakes - everyone makes plenty of them. Rather, it's the ability to quickly admit -…](https://sms4smile.com/quotes/whitney-tilson/the-mark-of-a-wise-person-isn-t-never-making-mistakes-everyone-makes/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [There is no sure-fire way to get rich quickly. In fact, the pursuit of that usually leads to ruin.](https://sms4smile.com/quotes/whitney-tilson/there-is-no-sure-fire-way-to-get-rich-quickly-in-fact-the-pursuit-of/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [When reviewing one's portfolio, it is important to be aware of common mental mistakes that may lead to bad decisions. The most powerful is…](https://sms4smile.com/quotes/whitney-tilson/when-reviewing-one-s-portfolio-it-is-important-to-be-aware-of-common/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [While I take no pleasure in others' misfortunes, we've historically made most of our profits from other investors behaving in a panicked and irrational…](https://sms4smile.com/quotes/whitney-tilson/while-i-take-no-pleasure-in-others-misfortunes-we-ve-historically/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [I'd say the general outline of a sound investment approach is, first of all, you have to decide are you going to try to…](https://sms4smile.com/quotes/whitney-tilson/i-d-say-the-general-outline-of-a-sound-investment-approach-is-first/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [I have encountered thousands of value investors over the years and am constantly struck by their differences - and their similarities.](https://sms4smile.com/quotes/whitney-tilson/i-have-encountered-thousands-of-value-investors-over-the-years-and-am/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [In life, an abundance of confidence gives us higher motivation, persistence, and optimism and can allow us to accomplish things we otherwise might not…](https://sms4smile.com/quotes/whitney-tilson/in-life-an-abundance-of-confidence-gives-us-higher-motivation/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [Many significant stock-price inefficiencies can occur when a company is spun off.](https://sms4smile.com/quotes/whitney-tilson/many-significant-stock-price-inefficiencies-can-occur-when-a-company/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [Independent thinking is not just helpful in becoming a successful investor, it’s required.](https://sms4smile.com/quotes/whitney-tilson/independent-thinking-is-not-just-helpful-in-becoming-a-successful/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [Assessing management quality is clearly one of the most important aspects of an investment decision.](https://sms4smile.com/quotes/whitney-tilson/assessing-management-quality-is-clearly-one-of-the-most-important/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [Parents are, of course, most important in shaping their children's lives, but teachers are critically important as well. Who among us doesn't look back…](https://sms4smile.com/quotes/whitney-tilson/parents-are-of-course-most-important-in-shaping-their-children-s/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) [Explore all 69 Whitney Tilson quotes ](https://sms4smile.com/quotes/author/whitney-tilson/) ## More Arrogance quotes > [Perhaps no order of mammals presents us with so extraordinary a series of gradations as this \[step by step, from humans to apes to…](https://sms4smile.com/quotes/thomas-huxley/perhaps-no-order-of-mammals-presents-us-with-so-extraordinary-a/) [Thomas Huxley](https://sms4smile.com/quotes/author/thomas-huxley/) > [wishes for sons by Lucille Clifton i wish them cramps. i wish them a strange town and the last tampon. I wish them no…](https://sms4smile.com/quotes/lucille-clifton/wishes-for-sons-by-lucille-clifton-i-wish-them-cramps-i-wish-them-a/) [Lucille Clifton](https://sms4smile.com/quotes/author/lucille-clifton/) > [The structure of the Swiss ruling class is rock-hard, and unchanged since the time of Napoleon. They sit on their mountains and lecture the…](https://sms4smile.com/quotes/jean-ziegler/the-structure-of-the-swiss-ruling-class-is-rock-hard-and-unchanged/) [Jean Ziegler](https://sms4smile.com/quotes/author/jean-ziegler/) > [What you see of me on TV and all of that, that is me - that's truly how I feel. I'm just multiplying it.…](https://sms4smile.com/quotes/baron-corbin/what-you-see-of-me-on-tv-and-all-of-that-that-is-me-that-s-truly-how/) [Baron Corbin](https://sms4smile.com/quotes/author/baron-corbin/) > [I don't join the New Atheists. So, for example, I wouldn't have the arrogance to lecture some mother who hopes to see her dying…](https://sms4smile.com/quotes/noam-chomsky/i-don-t-join-the-new-atheists-so-for-example-i-wouldn-t-have-the/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [Never mistake someones quietness for their arrogance as you can surely miss out on an awsome personality.](https://sms4smile.com/quotes/anonymous/never-mistake-someones-quietness-for-their-arrogance-as-you-can/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Most of us think of pride as self-centeredness, conceit, boastfulness, arrogance, or haughtiness. All of these are elements of the sin, but the heart,…](https://sms4smile.com/quotes/ezra-taft-benson/most-of-us-think-of-pride-as-self-centeredness-conceit-boastfulness/) [Ezra Taft Benson](https://sms4smile.com/quotes/author/ezra-taft-benson/) > [“I was consumed by a selfishness and arrogance that I didn't dare let go of until I found a new persona to hide behind.”](https://sms4smile.com/quotes/dorothy-koomson/i-was-consumed-by-a-selfishness-and-arrogance-that-i-didn-t-dare-let/) [Dorothy Koomson](https://sms4smile.com/quotes/author/dorothy-koomson/) > [Arrogance is the outgrowth of prosperity.](https://sms4smile.com/quotes/plautus/arrogance-is-the-outgrowth-of-prosperity/) [Plautus](https://sms4smile.com/quotes/author/plautus/) > [Timing and arrogance are decisive factors in the successful use of talent.](https://sms4smile.com/quotes/marya-mannes/timing-and-arrogance-are-decisive-factors-in-the-successful-use-of/) [Marya Mannes](https://sms4smile.com/quotes/author/marya-mannes/) > [Some say work smarter, not harder, but the wisest are both. Whether you're more of a hard worker or a smart worker, if you're…](https://sms4smile.com/quotes/colby-tatem/some-say-work-smarter-not-harder-but-the-wisest-are-both-whether-you/) [Colby Tatem](https://sms4smile.com/quotes/author/colby-tatem/) > [Closed some doors, not because of pride, incapacity or arrogance, but simply because they no longer lead somewhere.](https://sms4smile.com/quotes/frenz-jeffrey/closed-some-doors-not-because-of-pride-incapacity-or-arrogance-but/) [Frenz Jeffrey](https://sms4smile.com/quotes/author/frenz-jeffrey/) > [My success isn't a result of arrogance - it's a result of belief.](https://sms4smile.com/quotes/conor-mcgregor/my-success-isn-t-a-result-of-arrogance-it-s-a-result-of-belief/) [Conor McGregor](https://sms4smile.com/quotes/author/conor-mcgregor/) > [“...a great man who is vicious will only be a great doer of evil, and a rich man who is not liberal will be…](https://sms4smile.com/quotes/miguel-cervantes/a-great-man-who-is-vicious-will-only-be-a-great-doer-of-evil-and-a/) [Miguel Cervantes](https://sms4smile.com/quotes/author/miguel-cervantes/) > [An increasing number of people are growing uncomfortable with the gulf between the world's rich and the poor. Ostentatiously splashing your money around simply…](https://sms4smile.com/quotes/kalle-lasn/an-increasing-number-of-people-are-growing-uncomfortable-with-the/) [Kalle Lasn](https://sms4smile.com/quotes/author/kalle-lasn/) [Browse all 1,418 Arrogance quotes ](https://sms4smile.com/quotes/about/arrogance/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "My experience is that very few people have what it takes to be a successful investor, as I discussed in The Arrogance of Stock Picking.", "creator": { "@type": "Person", "name": "Whitney Tilson" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/whitney-tilson/my-experience-is-that-very-few-people-have-what-it-takes-to-be-a/", "about": { "@type": "Thing", "name": "Arrogance" }, "@id": "https://sms4smile.com/quotes/whitney-tilson/my-experience-is-that-very-few-people-have-what-it-takes-to-be-a/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg", "contentUrl": "https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg", "url": "https://sms4smile.com/quotes/i/99d/whitney-tilson-9949_arrogance_my-experience-is-that-very-few-people-ha_144297.jpg", "width": 1080, "height": 1080, "caption": "“My experience is that very few people have what it takes to be a successful investor, as I discussed in The…” — Whitney Tilson", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Whitney Tilson", "item": "https://sms4smile.com/quotes/author/whitney-tilson/" }, { "@type": "ListItem", "position": 4, "name": "My experience is that very few...", "item": "https://sms4smile.com/quotes/whitney-tilson/my-experience-is-that-very-few-people-have-what-it-takes-to-be-a/" } ], "@id": "https://sms4smile.com/quotes/whitney-tilson/my-experience-is-that-very-few-people-have-what-it-takes-to-be-a/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```