Specialists have tunnel vision. In the right circumstances they can produce much more than average. They are experts in their specific field, but often lose track of the big picture. They are like a well-tuned machinery for specific tasks and fields.
In order for the right circumstances to materialize, you absolutely need generalists. Remove them from the loop, and you lose adaptability. Generalists need not know all the details, but are usually jack-of-all-trades. The best generalists are specialists in one or more fields as well. They are discoverers, inventors, integrators, scientists, etc. For these kind of open-ended endeavours, it's a big mistake to be too much of a specialist.
I believe the best traders are both types. Because you need both execution and plan to go hand in hand. The absolute minimum is specialist though, since a generalist without execution cannot produce any tangible results.
Excellent diagram btw.
What I find is that no matter the discussion, as long as it is interesting, can provide some food for the brain to spark new ideas. However, many people do not pursue edge as hard as some here do, and just have no idea how much it takes and how little results may come from it even after many years of research. They keep believing the stories in media and take advice from gurus instead of verifying for themselves.
