What typically separates the ‘wheat from the chaff’ in the equity world?
Well to me, it comes down to understanding why you invest? Simply to make money, or instead because you love doing it?
Sure having a large bank account is great for paying the bills, eating out and going on holiday. Yet equally, its not fulfilling on its own, & certainly doesn’t make you a marvellous stock picker. If anything the opposite might be true, if one becomes a little complacent after a ‘lucky run’.
Instead, the most successful investors tend to LOVE the PROCESS, far more than the actual outcome. Continuously learning about new ideas, secular growth trends & potential risks. Whilst equally remaining hungry for knowledge, whatever their financial circumstances.
If you’re doing something you enjoy & basically addicted to – as opposed to simply trying to make a ‘fast buck’ – then this becomes second nature. Augmented of course, by thinking independently and staying positive when things inevitably go wrong.
The good news is – this is all free. And assuming one remains sane, can be repeated for the rest of one’s life.
Happy days indeed.
