Shoe Button Syndrome - Hard Money Bankers
"Shoe Button Syndrome" was a term in Warren Buffett's book that describes a person who has found success in one area, which then makes them feel entitled to false expertise in other areas. Some people fall victim to this by tricking themselves into believing that because they were so good in one particular field that it somehow makes them all knowing in other fields. This is usually just an annoying characteristic that won't impact most people listening to the afflicted 'expert'. Where it can be dangerous is when the so called "expert" is influencing money in a field that he is not an expert in. When someone with the 'Shoe Button Syndrome' stumbles into a financial arena that he/she is not accomplished in, it can be very costly because the real experts will swallow them up.
Ian Walsh
215.839.3271
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