Does Genius Come When Your Young Or Old?
Today, my question is simple, are most experienced investors young geniuses or old masters? I have a feeling most of us know the answer, however, here is a parallel piece presented by Malcolm Gladwell in the New Yorker. He writes about young precocity vs old mastery. Read the piece and then apply what you learn to value investing and understanding Warren Buffet.
Article Introduction (Via The New Yorker)
Genius, in the popular conception, is inextricably tied up with precocity—doing something truly creative, we’re inclined to think, requires the freshness and exuberance and energy of youth. Orson Welles made his masterpiece, “Citizen Kane,” at twenty-five. Herman Melville wrote a book a year through his late twenties, culminating, at age thirty-two, with “Moby-Dick.” Mozart wrote his breakthrough Piano Concerto No. 9 in E-Flat-Major at the age of twenty-one. In some creative forms, like lyric poetry, the importance of precocity has hardened into an iron law. How old was T. S. Eliot when he wrote “The Love Song of J. Alfred Prufrock” (“I grow old . . . I grow old”)? Twenty-three. “Poets peak young,” the creativity researcher James Kaufman maintains. Mihály Csíkszentmihályi, the author of “Flow,” agrees: “The most creative lyric verse is believed to be that written by the young.” According to the Harvard psychologist Howard Gardner, a leading authority on creativity, “Lyric poetry is a domain where talent is discovered early, burns brightly, and then peters out at an early age.”
Article Excerpts (VIa The New Yorker)
“A few years ago, an economist at the University of Chicago named David Galenson decided to find out whether this assumption about creativity was true. He looked through forty-seven major poetry anthologies published since 1980 and counted the poems that appear most frequently. Some people, of course, would quarrel with the notion that literary merit can be quantified. But Galenson simply wanted to poll a broad cross-section of literary scholars about which poems they felt were the most important in the American canon.”
“There is no evidence, Galenson concluded, for the notion that lyric poetry is a young person’s game. Some poets do their best work at the beginning of their careers. Others do their best work decades later.”
“The imprecision of their goals means that these artists rarely feel they have succeeded, and their careers are consequently often dominated by the pursuit of a single objective. These artists repeat themselves, painting the same subject many times, and gradually changing its treatment in an experimental process of trial and error.”
“Each work leads to the next, and none is generally privileged over others, so experimental painters rarely make specific preparatory sketches or plans for a painting. They consider the production of a painting as a process of searching, in which they aim to discover the image in the course of making it; they typically believe that learning is a more important goal than making finished paintings.”
“Experimental artists build their skills gradually over the course of their careers, improving their work slowly over long periods. These artists are perfectionists and are typically plagued by frustration at their inability to achieve their goal. ”