As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Monday, 12 December 2011

Talent and Investing??

Just For Thinking ...

Actually, those who have good talent should use their talents to make more and more money as employers, customers and businesses are willing to pay more for such talents. How about those who are less talented? No way employers, customers or businesses will pay more for less talented ones; and less talented will not move up the corporate ladder too. So how?

I am such example of less talented ones. I have no other choice; but to turn to the stock market to make good. Bo pian!

5 comments:

  1. CW8888,

    Do you realize that you have a talent in stock investment? From your posting, your TSR is growing.

    RayNg

    ReplyDelete
  2. Hi Ray,

    I am not too sure that I have talent in stock picking. Just tikam tikam. LOL!

    ReplyDelete
  3. Hi CW,
    You may have all the seven traits listed below, Ya? i certainly hope i have at least some of them. God Bless Us All. Amen.

    Extract from a book:-

    {Reading this won’t make you great.


    The seven traits are:
    1. The ability to buy stocks while others are panicking, and the ability to sell at a time when other investors are euphoric.

    2. The great investor has to be obsessive about playing the game and wanting to win.
    3. The willingness to learn from past mistakes.
    4. The fourth trait is an inherent sense of risks based on common sense.

    “Most people know the story of long Term capital Management, where a team of 60 or 70 PhDs (inclusive of a few Nobel prize winners) with sophisticated risks models failed to realized what, in retrospect, seemed so obvious: they were dramatically overleveraged. They never stepped and said to themselves, ‘Hey, even the computer says this is OK, does it really make sense in real life.
    “The ability to do this is not as prevalent in human beings as you might think. I believe the greatest risk control is common sense, but people fall into the habit of sleeping well at night because the computer says they should. They ignore common sense, a mistake I see repeated over and over in the investment world.”

    5. Great investors have confidence in their own convictions and stick with them, even when facing criticism.

    6. It is important to have both sides of your brain working, not just the left sides. – The side that is good at math and organization.

    In business school, I met a lot of people who were incredibly smart. But those who were majoring in finance couldn’t write worth a damn and had a hard time coming up with inventive ways to look at a problems,” said Mr. Sellers.
    “I was a little shocked at this. I later learned that some really smart people have only one side of their brain working, and that is enough to do very well in the world but not enough to be an entrepreneurial investor who thinks differently from the masses.”
    “On the other hand, if the right side of your brain is dominant, you probably loathe math and therefore you don’t often find these people in the world of finance to begin with.”
    So finance people tend to be very left-brain oriented – and Mr. Sellers said that that is a problem. A great investor needs to have both sides turn on. He said. “As an investor, you need to perform calculations and have a logical investment thesis. This is your left brain working. But you also need to be able to do things such as judging a management team from subtle cues they give off.
    You need to be able to step back and take a big picture view of certain situations rather than analyzing them to death. You need to have a sense of humour and humility and a common sense. And most important, I believe you need to be a good writer.”
    He cited Warren Buffett as one of the best writers in the business world. “It’s not a coincidence that he is also one of the best investor of all time.
    If you can’t write clearly, it is my opinion that you don’t think very clearly,” Mr. Sellers said.

    7. And finally the most important, and rarest, trait of all: the ability to live through volatility without changing your investment thought process.
    (i{mine} believe you can perform No. 1 only if you have No. 7.)

    ReplyDelete
  4. Hi Temperament,

    What is the title of this book?

    Yup. I strongly agreed with you on this one.

    "believe you can perform No. 1 only if you have No. 7"

    ReplyDelete
  5. Hi CW,
    i borrowed this book from the NL. i think the title is "Reading This Won't Make You Great" by Mark Sellers. Coincidently it was also featured as an article by Miss Teh Hooi LING in 2007.
    Hope you can find the book in our NL.

    NB:
    i believe all of us are gifted differently. We only have to find out what's our gifts. And may we profited from our gifts for ourselves and people around us.
    Amen.

    ReplyDelete

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