winter-skincare

When it comes to investing, there is no secret formula or simple blueprint for success in the stock market. However, you can put the odds in your favor if you start with hard work, patience, and diligent analysis. Here are some tried and true investing principals to get you in the right mindset.

Preparation: “The only way to win is to work, work, work, and hope to have a few insights”

  • Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day
  • More important than the will to win is the will to prepare
  • If you want to get smart, the question to keep asking is “why?”

Decisiveness – When proper circumstances present themselves, act with decisiveness and conviction

  • Be fearful when others are greedy, and greedy when others are fearful
  • Opportunity doesn’t come often, so seize it when it comes
  • Opportunity meeting the prepared mind; that’s the game

Change – Live with change and accept unremovable complexity

  • Recognize and adapt to the true nature of the world around you; don’t expect it to adapt to you
  • Continually challenge and willingly amend your “best-loved ideas”
  • Recognize reality even when you don’t like it – especially when you don’t like it

Focus – Keep things simple and remember what you set out to do

  • Remember that reputation and integrity are your most valuable assets – and can be lost in a heartbeat
  • Be careful to exclude unneeded information or slop: “A small leak can sink a great ship”
  • Face your big troubles; don’t sweep them under the rug

Let Us Help You Manage Your Investments

Disclosures

This document is for educational purposes only and should not be construed as legal or tax advice. One should consult a legal or tax professional regarding their own personal situation. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products offered by an insurance company. They do not refer in any way to securities or investment advisory products Insurance policy applications are vetted through an underwriting process set forth by the issuing insurance company. Some applications may not be accepted based upon adverse underwriting results. Death benefit payouts are based upon the claims paying ability of the issuing insurance company. The firm providing this document is not affiliated with the Social Security Administration or any other government entity.

Adapted from: https://acquirersmultiple.com/2017/10/charlies-munger-the-ultimate-investing-principles-checklist/