Updated: Sep 10, 2022
Quote for context:
"Be fearful when others are greedy and greedy when others are fearful."
This is perhaps one of the most well-known investing adages of our time—it tends to pop up on Twitter when markets are at the top (stop being greedy) or at the bottom (stop being fearful).
I think it's more interesting to consider its broad application to life: Following the crowd is easy, but it's a recipe for average outcomes. If you want to achieve asymmetric outcomes, you have to learn to think independently. You have to learn to do your own work and come to your own decisions. You can't rely on others. You have to develop your own maps.
Remember: Your unique perspectives are your edge—but only if you harness them effectively.
Here is a great article from Harvard Business Review on “How to Be a Smart Contrarian”.
I'd also really recommend people follow curiosity chronicles. Lots of great insights. A bit like this.