Hi Mark,

If I may offer some criteria for evaluating "natural aptitude." In my experience, in working as a portfolio manager, working with other portfolio managers, hiring analysts and my portfolio manager successor, as well as having the privilege of seeing one of history's greatest investors at work, the folks that are best at investment management have a balanced mind. They are left-brained and right-brained. I used to offer up an analogy to help people understand why investment analysis is not just a left-brained activity.

Investing is like detective work. Invite ten detectives to a crime scene to solve a crime and there is certainly something to be said for the detectives that diligently observe fact-gathering protocols, record evidence, and execute technique. But the detective that solves the crime is the detective that can tell which facts are important and which are not, and most importantly, can see the underlying story that makes the facts make sense.

Sadly, many people attracted to the investment business are left-brained technocrats looking for a quantification of their intellect as measured by big dollar pay. Ugh! Enough of those folks. We need more of the passionate folks with natural aptitude for solving mysteries.

With smiles,

Jason