Good enough is good enough

Better a diamond with a flaw than a pebble without. Perfection is the enemy of the good. These and similar sayings are common in many languages and cultures. They all mean the same thing. If you get obsessed with getting the best results possible, then you are likely to actually get worse results or not be able to get to the goal that you had set out to achieve. Most of us, professionally and personally, understand that good enough is good enough. Investments are a different matter. Too many investors feel that all investments that they (or someone) choose must do well or else there is some problem in the method of choosing them. Some years ago, I wrote about a certain style of analysis that some mutual fund experts had adopted. They would go through the past portfolios of equity mutual