What do you think makes a “great investor”? Is it simply the person who achieves the best returns, or has the ability to “sniff out” an opportunity? What about intellect? Are great investors just smarter than everyone else? Or is there something else that separates the good from the not-so-good investors?
Think Warren Buffett. He believes that “Temperament is more important than IQ. You need reasonable intelligence, but you absolutely have to have the right temperament. Otherwise, something will snap you” tinyurl.com/y2uadrvh).
It’s hard to disagree. Being effective as an investor is more about sensibility and less about IQ or guts or the drive to win.
Investing is not a contest. It is not a sport.
Further, investing is not as easy as it might seem. There is a lot to learn, and the learning never stops. Markets change, goals change — in fact, even the unanticipated (think COVID-19) can affect an investment program.
What else? Understanding that every decision will not be the right decision. Accepting that the goal is to put money to work, not to strive for home runs. Recognizing that investing is not a competition. Understanding what investors do and don’t control. Plus, having the nerve to recognize and weather inevitable storms.
I also agree with Wall Street columnist Jason Zweig’s seven “virtues”: curiosity, skepticism, independence, humility, discipline, patience and courage. ( tinyurl.com/3p2mmx8w). Let’s focus on just four.
Curiosity: “Ordinary investors are afraid of what they don’t know, as if they are navigating the world with those antique maps that labeled uncharted waters with the warning ‘here be...
from News https://www.ctpost.com/news/article/julie-jason-are-you-a-great-investor-18109630.php
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