He points out something that I think many investors miss. He says you don’t need a high IQ to be successful in the investing business. What you need is the right “temperament”.
You are not right or wrong because due to whether the crowd agrees with you or not. You are right because your facts and analysis are right.
Remember you are buying a business. The price tells you whether the business is temporarily over or underpriced. What is the underlying business worth?