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Steven Romick, First Pacific Advisors, reveals his two favorite stock picks.

IN THIS ISSUE

MBAC Fertilizer: There's Value in Growing Food
By Cara Jacobsen, D3 Family Funds
Blind Faith
By Steven Romick, First Pacific Advisors
A Small Cap Biotech That is a Cash Flow Genera
By Tim Eriksen, Eriksen Capital Management
Residential Housing Presents a Compelling Inve
By Jeff Pintar, Pintar Investment Company

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Blind Faith
By Steven Romick, First Pacific Advisors

Blind faith has gotten us into trouble repeatedly throughout history. Just consider the rogue’s gallery of false idols, dictators, and charlatans we have followed, hoping for something different, something better. That misplaced conviction corrupts and destroys.

Daily life does require we put our trust in others, but we should do so judiciously. Each one of us has our circle of competence: performing brain surgery, hitting home runs, defending the accused in court or teaching high school math. However, doctors make mistakes and patients die, ballgames are lost on errors, innocent people go to jail and some students don’t understand division. In some cases, the fault is ours, for failing to consider that the people in whom we’ve placed our faith are incompetent, that the supreme confidence they have in their own ability is unjustifiable.

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