Craft and Art II

“With craft, whenever you ask, you get answers. The art is to get more questions—the right questions—flowing from the answers you received to prior questions.” – Kenneth L. Fisher

Most often the praises are go towards the artist or architect who build the wonderful building although the building not necessary done himself by these people. In fact it involves many people such as sculptors, painters and craftsmen to make the building great. For example, when you visit Sagrada Familia in Barcelona, what lies in your mind is its architect name: Antonio Gaudi. You would not bother the many great sculptors, painters and craftsmen who make the building great. That’s the reality of life. That’s the reason that I often call for developing more multi-disciplinary generalists rather than professionals. The society needs professionals such as sculptors and painters and there are bunch of them in fact. The lack of the generalist like Antonio Gaudi who could integrate all known worldly wisdom and apply it to his work and making its work become an art, an invaluable art.

In investment world, same phenomenon happens. There are lots of so-called professionals. Often, they treat the investment “piece-by-piece” and make an analysis based on this analogy. This is similar to the physician who gives the treatment based on the patient complaint, that’s when patient complaints about headache, give them panadol. What’s the underlying reasons that causes headache is none of their business. When the society filled with these “professionals”, there is no wonder why so many fund managers performed poorly. At the same time, who does possess art but not craft, stands out as a winner like Warren Buffett and Charles Munger.

Note: "Lincoln in Dalivision" by Salvador Dali, one of the greatest modern artist where his arts could be found in Barcelona.