16 THE INVESTOR
single day.) He calls his system a flexible theoretical framework
that can accommodate any global economic development. Like-
wise, Zweig says that the single reason why most investors fail to
win in the markets is because they are not flexible.
Those are the eight traits that emerged as I read and studied
the styles and strategies of these five masters. I’ve listed them in
Figure 2.1 and have positioned them in a particular fashion. Does
anything jump out as you look at these traits? Do you see a pat-
tern? (Can you remember which of the eight traits helps you to
spot patterns?)
Some of you probably noticed that these traits are positioned
as opposites, as polar extremes. It brings to mind the definition of
mixed emotions: like watching your mother-in-law go over a cliff
in your new Cadillac. The ability to move between extremes is what
distinguishes the investment masters—and what makes creative
genius a tricky proposition. For this reason, the next chapter is
entitled...Breadth (taking in information) Depth (focusing intently on one
company)
Observation (taking in the details) Creativity (seeing the big picture,
themes)
Objectivity (able to be clear and Passion (deep devotion to subject)
unemotional)
Discipline (decisive and organized) Flexibility (open to change, go with
flow)Figure 2.1 The eight traits of the masters.02 ware 16 1/19/01, 1:00 PM