When Howard Mark's said, that 'advice from an average investor, obviously can't help you be an above average investor.'

It really got me thinking.

Refusing to listen to opinions of other investors is pride. It is believing one is self sufficient.

I have gotten interesting ideas just by interacting with other investors.

But, then again, there's a possibility that all the investors who have given me an insight or two, are above average.

And the above average investor will not have it written on their forehead.

And an attempt, at showing, or saying, that one is an above average investor, raises contempt from the other investors.

Good question. How then does one notice an above average investor from a crowd of average investors?

I like to use a formula that is simple.

Have they learned from other investors mistakes, or do they think themselves wiser than the super investors. Anyone that disregards the ancestors, is either a curious mind, out to explore, or greedy for returns…. And If you think about it, there's not a difference.

Do they own any forex investments? Even bitcoin? Helps me know how this investor thinks about money. I'm not condemning forex, but anyone, too busy focusing on what could be, without regard of what if it doesn't be, is not willing to protect what they already have. Which is greed. For one to make money, they first have to protect, what they already have.

Another way is to just discuss their portfolio of holdings. Why they chose those specific investments, in an ocean of investment options. They have to put their money where their words are. What conviction do they have in their ideas.

About 75% of the portfolio I'm managing in Uganda is invested in Stanbic Uganda. Some tell me, that is risky, but when I ask to see their portfolios, there's nothing of interest there.

Some of the most successful investors I know have more than 90% of all their money invested in only one company. Some I know, have 100%.

Is that arrogance or insight?

The line is thin. Thread bare.but, if you meet some of the most successful entrepreneurs in the country, you'll notice that all their wealth sprung from that business they invested all their time and financial resources into. Which means they were 100% invested in that one company they had conviction in.

The average investor has no convictions.

‘When this investor suggests that you should sell off portions of your most successful investments simply because they have come to dominate your portfolio is akin to suggesting that the Bulls trade Michael Jordan because he has become so important to the team.’