"It's Always Worth Losing"...a lesson in insanity (?)
Don't look at me or blame me -- Jim Carrey said it. I'm simply applying it to a different context in order to write this blog. And, if you haven't guessed yet or just think I'm going off the deep end, it's in relation to investing (sound the trumpet).
That said, whether you're a fan or not, he makes such a game-changing observation that I felt compelled to discuss and articulate how it can exponentially improve not only your investment skill, but also your life. (see the 3min clip here: https://www.youtube.com/watch?v=mhI_ArJtI7k )
You might be asking, and rightfully so, why this topic in the midst of the markets crashing? Because, unfortunately, I believe most people simply discard the above quote and say under their breath "easy for him to say, he's got a 150 million in the bank and I'M BUSY." My response to this reaction is, how do you think he got there?
The seed for this article came to me while a client was expressing his dislike for "acting like a novice investor." But, I immediately relayed that instead of focusing on the perception of what he believed to be immature behavior or simply an impulse decision - why not focus on the initiative he displayed.
You probably know this already, but it bears clarifying because most investors do not approach this dilemma in a constructive manner. Let's face it, when money (aka freedom in our society) is at stake we can get a little off balance, to put in politically correct terms. How do we fix it? If we can shift our focus or get re-aligned with the learning experience it can become a fertile environment that enables us to shave years off our future learning curve.
Think of it this way. How successful at riding a bike can you become by never putting your feet on the pedals? Or, how long will you last in the deep end of a pool if you never jump into a body of water? When I was younger, say 2 or 3 years old, I supposedly (no video evidence your honor) jumped into the water right next to where my older brother had just landed after he had sprung off the diving board (back when you were allowed to dive in pools). This of course was haphazard (and ill-advised) given I was still learning how to run and walk, but I wanted in and I didn't have the capacity to understand the danger, and so I launched into the deep blue body of water.
What I like most about this cautionary tale, or better yet, family folklore. Is that it captures the innocence of the desire and how I was essentially willing to do whatever it took to accomplish that goal. Did I mention it took place in Georgia during the summer?
Here's the point, the essence of what most of us waste our time focusing on as a result of our upbringing (blame the school system, blame Trump's tweets, blame the moon cycles or blame your own level of awareness) does not and will not ever improve our ability to become better. That applies to swimming, biking, underwater basket weaving, breathing and in the interest of this article, investing.
As always, there is so much more to learn about ourselves so we can observe the markets to make more sound decisions as investors.
Thoughts? Challenges? Recommendations for therapists? Let me know what you think
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