Compare his meticulous approach with the way in which many investors think about deploying capital. They don't have a detailed plan, certainly nothing as data-driven as Williams' approach. They rely on rumor, idle gossip, media pundits or gut feeling. Sometimes they make trades on a whim; other times it's based on so much information that it makes them overconfident and more likely to fail. They rely on heuristics and myth, rather than cold hard evidence.
Williams had almost 8,000 at bats and he wrote that each one was an adventure. It wasn't a random undertaking, but rather a deeply researched event into which he put enormous preparation. If more investors utilized a process comparable to that of baseball’s greatest hitter, they would be much better off.