Temperament7 July 2012 10:05:00 GMT+08:00:
commented:
".. ... But when you first started investing in Keppel Corp, i don't think you can see that far. When did you start to see that far and why? Please ignore my questions if you don't like to answer."
The answer is obviously No, No, No!!! There is absolutely no way for anyone to know the future.
Uncle8888 believe that how and when to buy stocks is never the most difficult part. We will have no problem in learning and acquiring knowledge and methods either FA, TA or combination of both FA and TA to buy stocks from many different sources and even free sources like NLB and Google.
Uncle8888 strongly believe the most difficult part is overcome the mindset that is deeply rooted in most of us i.e. scare to lose WINNING money back to the market!!!!
Most of us can easily sit on LOSING positions i.e. sunken costs for many years. Some may even hold these sunken costs to their grave.
The most difficult part is holding on to winning positions and overcoming the emotion of fear of losing more and more winning money back to the falling markets across market cycles.
Read? Investing Made Simple by Uncle8888 (16)
What is Right and Hold?
When the stock market is falling and you are giving winning money back to the stock market. Is this still Right and Hold???
May be we can learn something from the World's greatest investor in our time ...
Posts
mindset! totally agree with you ...
ReplyDeletecare to share how u conquer yours? thanks!
Yup, that's what I deduced after reflecting why I only got 3 baggers...
ReplyDeleteCannot sit tight :(
It's the mind that wags the tails of money management and method.
I will share it over future blog posts soon.
ReplyDeleteagree, that mindset also apply deeply into trading.
ReplyDeleteHA! HA!
ReplyDeleteMay i quote WB again:-
Extract:
Warren Buffett: Temperament Ranks above IQ When Investing
A lot of people with high IQs are terrible investors because they have terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control. You need patience and discipline and an ability to take losses and adversity without going crazy.
You need an ability to not be driven crazy by extreme success.
Our standard prescription for the know-nothing investor with a long-term time horizon is a no-load index fund. I think that works better than relying on your stockbroker. The people who are telling you to do something else are all being paid by commissions or fees.
Ha! Ha!
i am going to buy some STI index leow. When time permits.