Here is a Master Class of Investment Lessons…..I did this as a lecture for a few managers who communicate with HNI customers…
Not necessarily in any particular order…you choose that yourself:
1. Write down an Investment Philosophy Statement like this:
2. Be clear about your financial goals – and understand that a market fall is NOT the reason to get unfocused from your goals.
3. When the market is panicking, it makes sense to stand still…BUT IT IS NOT EASY!
4. There is NO investment theory that works all the time. Investment theory can be very confusing and completely useless for the beginners. Be careful.
5. You cannot invest like Buffett if you have a fraction of the money he has. Accept it.
6. The companies in which Warren Buffett have done a tremendous amount of damage to the world at large. WB is the CEO of Berkshire Hathway and he does what is best for his shareholders. Period.
7. Just because you HAVE not seen something, it does not mean it cannot happen. World War I, II both happened. Tsunami, bank meltdown, gold bull run, gold bear run, recession, …ALL ARE REALITIES…
8. Maintain a diary and write down how it felt in the pits. If you were happy to be alive, rejoice now, there is enough to eat for everybody….
9. Read the philosophy statement, and the diary about why you bought a particular share, and how excited you were to be alive….
10. Think real hard about a long term buy. Once you buy you will know that it is worth keeping through a bad monsoon..!
11. Leverage KILLS…read it again…
actually it seems unending…but have to end at some stage right?
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