No. 11 LEARN FROM YOUR MISTAKES
As a rule we do not learn from our mistakes UNLESS WE MAKE AN ATTEMPT TO DO THAT. Of course those who do not invest do not make an investing mistake. Of course they realize late in life that the BIGGEST MISTAKE that they made was NOT INVESTING! So step one maintain a notebook and write down all the things that you are doing. Remember in life it is not just the things that you do that are important, but also WHAT YOU DID NOT DO – for eg. when you invest in a bank fixed deposit YOU ARE SAYING NO to an equity fund. So pardon yourself for all the errors. Don’t become discouraged, and don’t try to recoup your losses by taking bigger risks that too in the same share. Mistakes are learning grounds for the good investor. See what went wrong – and remember that looks can be deceptive.
Maintain your diary to not down your mistakes made – and make sure that you do not repeat them. To be a successful investor you need to LEARN from your mistakes as well as the mistakes of others. Everytime.
No. 12 BEGIN WITH A PRAYER
You understand this….
No.13 OUTPERFORMING THE MARKET IS A DIFFICULT TASK
AND YOU DO NOT HAVE TO
The challenge in life is to make enough money to pay for your financial goals. Period.
The challenge is not to just make better decision than the average investor takes…but far superiod roads to drive. The real challenge is making investment decisions that are better than those of the professionals.
So any investment company that consistently outperforms the market is actually doing a much better job than we attribute it to!
And if it not only consistently outperforms the market, but does well, he is doing a great job
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