Most people recognize the benefits of individuality, but the fact is that personal economic success requires conformity.

　　Personal economic success might be due either to ones investment strategy or to ones work or career. With respect to the former, non-conformists with enough risk tolerance and patience invariably achieve more success than conformists. With respect to the latter, while non-conformists are more likely to succeed in newer industries where markets and technology are in constant flux, conformists are more likely to succeed in traditional service industries ensconced in systems and regulations.

　　Regarding the sort of economic success that results from investing ones wealth, the principles of investing dictate that those who seek risky investments in areas that are out of favor with the majority of investors ultimately reap higher returns than those who follow the crowd. It is conformists who invest, along with most other investors, in areas that are currently the most profitable, and popular. However, popular investments tend to be overpriced, and in the long run their values will come down to reasonable levels. As a result, given enough time conformists tend to reap lower rewards from their investments than nonconformists do.

　　Turning to the sort of economic success that one achieves by way of ones work, neither conformists nor non-conformists necessarily achieve greater success than the other group.

　　In consumer-driven industries, where innovation, product differentiation and creativity are crucial to lasting success, non-conformists who take unique approaches tend to recognize emerging trends and to rise above their peers. For example, Ted Turners departure from the traditional format of the other television networks, and the responsiveness of Amazons Jeff Bezos to burgeoning Internet commerce, propelled these two non-conformists into leadership positions in their industries. Particularly in technology industries, where there are no conventional practices or ways of thinking to begin with, people who cling to last years paradigm, or to the status quo in general, are soon left behind by coworkers and competing firms.

　　However, in traditional service industries--such as finance, accounting, insurance, legal services, and health care--personal economic success comes not to non-conformists but rather to those who can work most effectively within the constraints of established practices, policies and regulations. Of course, a clever idea for structuring a deal, or a creative legal maneuver, might play a role in winning smaller battles along the way. But such tactics are those of conformists who are playing by the same ground rules as their peers; winners are just better at the game.

　　In conclusion, non-conformists with sufficient risk tolerance and patience are invariably the most successful investors in the long run. When it comes to careers, however, while non-conformists tend to be more successful in technology- and consumer-driven industries, traditionalists are the winners in system-driven industries pervaded by policy, regulation, and bureaucracy.

　　Most people recognize the benefits of individuality, but the fact is that personal economic success requires conformity.

　　Personal economic success might be due either to ones investment strategy or to ones work or career. With respect to the former, non-conformists with enough risk tolerance and patience invariably achieve more success than conformists. With respect to the latter, while non-conformists are more likely to succeed in newer industries where markets and technology are in constant flux, conformists are more likely to succeed in traditional service industries ensconced in systems and regulations.

　　Regarding the sort of economic success that results from investing ones wealth, the principles of investing dictate that those who seek risky investments in areas that are out of favor with the majority of investors ultimately reap higher returns than those who follow the crowd. It is conformists who invest, along with most other investors, in areas that are currently the most profitable, and popular. However, popular investments tend to be overpriced, and in the long run their values will come down to reasonable levels. As a result, given enough time conformists tend to reap lower rewards from their investments than nonconformists do.

　　Turning to the sort of economic success that one achieves by way of ones work, neither conformists nor non-conformists necessarily achieve greater success than the other group.

　　In consumer-driven industries, where innovation, product differentiation and creativity are crucial to lasting success, non-conformists who take unique approaches tend to recognize emerging trends and to rise above their peers. For example, Ted Turners departure from the traditional format of the other television networks, and the responsiveness of Amazons Jeff Bezos to burgeoning Internet commerce, propelled these two non-conformists into leadership positions in their industries. Particularly in technology industries, where there are no conventional practices or ways of thinking to begin with, people who cling to last years paradigm, or to the status quo in general, are soon left behind by coworkers and competing firms.

　　However, in traditional service industries--such as finance, accounting, insurance, legal services, and health care--personal economic success comes not to non-conformists but rather to those who can work most effectively within the constraints of established practices, policies and regulations. Of course, a clever idea for structuring a deal, or a creative legal maneuver, might play a role in winning smaller battles along the way. But such tactics are those of conformists who are playing by the same ground rules as their peers; winners are just better at the game.

　　In conclusion, non-conformists with sufficient risk tolerance and patience are invariably the most successful investors in the long run. When it comes to careers, however, while non-conformists tend to be more successful in technology- and consumer-driven industries, traditionalists are the winners in system-driven industries pervaded by policy, regulation, and bureaucracy.