Buyer Beware

Being merely smart isn't good enough in the investment profession because everybody is smart. You also have to have the cynical attitude and ability to sniff out bs. Sounds like [certain investment managers] were sorely deficient in that department based on [what] they were buying. This is where Warren Buffett excels, and is often underappreciated.

From Daniel Mauro, on Knowing when to Quit: The Key to Success

This idea is very true...and it works as much for everybody, in different walks of life. For example, we all have to make sure we aren't misled in our daily lives. 

Making good investments has a lot to do with not being misled and lied to. Be careful. 

May the buyer beware.