No. of Recommendations: 4
"Welcome back! While you were gone, I had taken up some of your duties of infuriating people around the Fooldom. I will step down now that you are back."

I think I will most likely infuriate people a lot less. When I left the USA for Diego Garcia this past January, it was right after my father had died. Diego Garcia is a extremely isolated place. It is isolated enough that for a long time the school I graduated from the US Merchant Marine Academy would only assign cadets on ships out there after they passed a psychological profile because......

Diego Garcia produces a lot of alcoholics as well as people with a few other dysfunctions.......

I knew I was in for a tough time unless I went on a intense personal development journey while on the journey to Diego Garcia and beyond. I have now gone quite a ways down the road to developing emotional self-control........which seems to me quite useful as far as investing in stocks.

I don't fall in love with stocks or hate different stocks. I am not easily led by the positive emotions of someone pumping a stock and I am not easily influenced by someone going on a negative diatribe against a certain stock....I simply research stocks and make attempts to discover whether they are best for me.

I have gone deep inside my mind and changed many things. I am currently in the process of eliminating a lot of habits that I think would not be useful for me.

One habit I find unproductive is engaging in useless arguments that generally don't change anyone's mind about anything.

For instance, I could go into long diatribe's about putting massive sums of money into long shot Chinese stocks and no matter what I say some people will not break the habit of GAMBLING instead of INVESTING and will continue to OVERWEIGHT certain sectors or stocks in search of the JACKPOT.

While I believe some people have the skill set to be good GAMBLERS.....I believe most GAMBLERS will be LOSERS in the end.....but that is just my belief and through personal experimentation, I know probably more than anyone how difficult it might seem to change behaviors....Most people seem reluctant to put the work in to make the changes necessary to improve......There seems very little I can say to help people make the behavioral changes necessary to become a better investor.

One thing I have found seems to be to leave very loose hints on how to do so.......when people make a discovery for themselves, it seems to have a more lasting effect than someone preaching it to, I will become even more vague in my "advice"....LOL

Here is a bit of something I have some belief in most of the time:

"Carl believes that investment success isn’t about skill, but about behavior. To the extent that you can control your emotional and psychological involvement with the process, you’ll outperform your peers. That’s not to say that you should be a cold mechanical machine with money. But that you should be aware of when you’re making decisions based on irrational exuberance (or irrational fear) instead of financial best practices."

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.