Flawed Mental Model

  Here's a joke that has a great pedigree in the investment world. The father of value investing, Benjamin Graham, apparently used to narrate this story to his students and draw a parallel to the behaviour of stock market punters. So this oil prospector dies and goes to heaven. At the gate, St Peter reads the account of his life and tells him that he's qualified for heaven, but there was a problem. "See that crowd over there? They're all oil prospectors who've arrived before you. And the way things work here, you can' get in until after them. So I' afraid this looks like a long wait for you." "Not a problem", replies the man, "I know how to get rid of that crowd." So he turns towards that crowd of oil prospecto