Any investing quotes from non-commercially vested Gurus and even wise words from your personally known or close investing sifus cannot sink into our investing mind until we are hit by deep shit in the market and learnt them in the hard way! Same as Uncle8888 and finally understood his Sifu's wise words.
It took a deep shit of pains of losing the sight of reaching FI in 1 to 2 years time to finally learnt!
Read? Chasing the last $100K (last mile) and may fall hard! (2)
Read? My dream of pursuing financial independence by 55 in 2011!
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So my sifu is right!
It is far better to regret not making more money than to feel sorry of losing your hard earned money.
My sifu started trading and investing at age of 18 following the foot-steps of his father into the stock market.
Choose Regret or Sorry?
It is in our own hands. It is our own making!
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Uncle8888's Sifu wise words: "It is far better to REGRET not making more than to feel SORRY of losing our hard earned money!".
This is definitely aligned to our human nature and biasness.
When we cannot resist it then we should follow it!
Be like rain water; follow it down stream to whatever it goes!
Read? Are Future Market Crises Our Opportunities???
Posts
CW,
ReplyDeleteWow! Our coffee table post is already almost 7 years old?
A lot of things we have to figure it out for ourselves.
8 immortals crossing the eastern sea; own poison own self discover!
Times flies. 7 years older or wiser? LoL!
DeleteNeither.
DeleteLike fine wine, we've become more attractive as "long term meal tickets" for mei meis that desire instant financial independence ;)
Don't let me catch you at Chinatown!
Trying not to lose money is actually much easier to execute than trying to make money. Unfortunately, most people do not appreciate risk management until they suffer gut-wrenching losses.
ReplyDeleteHi Uncle8888,
ReplyDeleteAlamak! Went down the rabbit hole of following your links above. Hmmm I think the 2015 bear market also "retired" a lot of local retail investors...
As for regret vs sorry, people need to be truthful to themselves on 3 questions:
1) How much I have already accumulated?
2) How much time I have?
3) Is my stomach made of iron or clay?
Boils down to Need, Ability & Willingness to put your hard earned money at risk.
Most of the time it's not a black or white thing. The truth is somewhere in the middle ranging from -0.5 standard deviation to +0.5 SD of the median lol.
And it's not fixed .... it is constantly moving left & right. Yup, it's grey.
Smol will say "Told you so!" 😂
Hey peeps,
ReplyDeleteBelow is a rather helpful podcast that touches quite a bit on lessons from the markets, self-awareness, don't do dumb stuff etc.
Nothing earth shattering for seasoned investors but a good timely reminder for basic principles & fundamentals.
https://investorhour.com/episodes/how-the-worlds-greatest-investors-win-at-the-market
What this podcast is about:
"Then on this week's interview, Dan invites William Green onto the show.
William has written for many leading publications like The New Yorker, Time, Fortune, Forbes, Barron's, The London Spectator, The Economist, and many more.
He's also interviewed Presidents, Prime Ministers, and scores of the world's most successful billionaire investors.
He shares some of the best lessons he's learned in his latest book, Richer, Wiser, Happier: How the World's Greatest Investors Win at the Market and in Life.
During their conversation, William gives Dan some fascinating insights he's learned during interviews with famed investors like Charlie Munger, Joel Greenblatt, Sir John Templeton, Jack Bogle, Bill Miller, Howard Marks, Tom Gayner and many more."