As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Welcome to Ministry of Wealth!

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

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Value Investing
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Saturday, 19 September 2009

Investing Knowledge and Skills

Peter Lynch said: "In the Long Run, it's not How Much Money You Make that will determine Your Future. It's how much of that Money you PUT TO WORK - by SAVING It and by INVESTING It."

Even though you may be good in saving lots of money through careful tracking of daily expenses, but if your investment strategies didn't get you anywhere. You might as well save less and spend more to enjoy yourself.

You can increase your investing knowledge through reading investment, finance, and trading books. There are plenty of such books available at different NLBs. Do borrow them to read. Sometime, I do borrow them back again and again to do a quick refresh.

(BTW, if more and more people borrow such books, NLB will likely to allocate more budget to bring in more new books. Kindly help to borrow as many such books as possible as I am running out of new books to read. LOL)

Investing Skills are different from Investing Knowledge. You can judge yourself whether you have good Investing Skills or not from the results of your Investment Strategies. If you are not progressing well towards your Investment Goals, or not getting anywhere, then you are less skillful, but you can still be very knowledgeable. Your views on investment or trading can be quite impressive but your personal investment goals are not achieved.

Similarly, one can be a skillful investor who is progressing well on target towards one's own Investment Goals; but, may not be so knowledgeable to participate in discussions on investing and trading.

Your investing skills come from real life experience in investing or trading, learning from your own mistakes and also from other's mistakes. The Internet space is never short of people lamenting on their own investing mistakes and we just need to google from times to times.

You need an open mind to be able to realize your own mistakes, keep reviewing and refining your investment strategies if you realize that they are not working for a while.
Benjamin Frankin said:

An Investment in Knowledge Pays the Best Return.

So are you planning to visit NLB to pick up your next investment book today or on Monday?

1 comment:

  1. Hi createwealth8888

    So far, investing in the time and effort to borrow books from the library has been the most rewarding investment in my life. :-)

    Be well and prosper.


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