When you're drowning in knowledge, it's experience that counts

For most of human history, people's quest has been for knowledge. Sir Francis Bacon, one of the pioneers of the scientific method, is today best known for a line in his 1597 essay on spiritual meditation: “Knowledge is power.”

All that changed with the Internet's levelling of the information playing field. In short order, many executives and money managers have gone from desperately searching for information to complaining of drowning in it.

The key to success today is no longer knowledge and information alone; more than ever it's the discipline, experience, perspective and insight to know what to do with that information, something that only comes from the battle scars earned working through multiple market cycles.

Couldn't agree more. Good reading.