- There are many things investors don't need to know.
- We should ignore these and focus on what we do need to know such as which risks pay off and which do not.
All investing is about the nature of knowledge. Every time you buy a share you are in effect claiming to know something the market does not: otherwise, why not just hold a tracker fund?
All of us, however, have very limited knowledge, especially of how to make money. We must therefore focus upon useful information and not irrelevancies. Which is actually great news for private investors, because there is a lot of complicated detail we don’t need to know.