Leader or Follower?

At the height of the economic crisis, when Goldman Sachs was trading at about $48, I overheard one of my Directors saying that it was a good time to buy GS.

Right before the recent rally in gold and copper prices, my friend Tim mentioned that he was long gold and copper.

Sometimes, in addition to doing your own homework, it's important to know who to follow. At the same time, developing a sense of what is overvalued and what is undervalued is obviously very important.

Is it more important to be a leader or a follower? Sometimes, it's necessary to be both.

Here's some more inspiration.