[The importance of non-consensus correctness]

1️⃣If our view is consistent with the market and is right, then our investment will obtain an average β

2️⃣If our view is consistent with the market and wrong, then our investment activities will average β

3️⃣If our view is inconsistent with the market and is right, then we invest to obtain alpha that exceeds the market

4️⃣If our view is inconsistent with the market and is wrong, then our investment will achieve a negative beta that is not as good as the market

❤️What is the most important thing in investing? Non-consensus correctness. #investing #investment

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