The Battle of Thermopylae was fought in 480 BC, when legend tells us that a mere 300 Spartan soldiers withstood the one-million man army of the Persian emperor Xerxes.  Obviously, that took great courage.

Currently, ten of the top financial advisors in Europe have started The 300 Club, citing the courage necessary to say “investment theory is over complicated and often wrong.”  I expect the academicians will attack The 300 Club in the way the Persians attacked the Spartans.  The criticism will be strongest in the U.S.

It is a basic tenet of existentialism to be suspicious of systems, thinking anything that comes from the mind of man could never deserve religious conviction.  An example is Modern Portfolio Theory.  Another is econometrics.  There is value in all theories, but theories are not religion.

It is enough to know the theories of investment, to give perspective;  not as religions to be practiced.  I salute The 300 Club and will lend my support.