“It can be difficult to ignore headlines and soundbites from uber-successful investors because you want to believe that they’re giving you advice when they speak in public settings. My general rule of thumb is to ignore making decisions based on investing soundbites from legendary investors.
There are a few reasons for this.
First of all, there’s a good chance they have way more money than you, so the circumstances are completely different. Billionaires are playing a different ballgame than you and I.
Then there’s the fact that you have no idea what their time horizon, risk tolerence or overall strategy are in regards to their quip about the markets.
And finally, most really great investors are also really great marketers as well, so there’s no way of telling whether they’re really serious or just trying to earn some publicity or raise more money.
Investing based on soundbites is tempting but it’s more trouble than it’s worth.”