The wisest
investors learn from the mistakes of others.
In the August 2012 version of their paper entitled «Do Individual
Investors Learn from Their Mistakes?»
From time to time, we look at the negative side of investing, on the theory that successful
investors learn from mistakes.
In the August 2012 version of their paper entitled «Do Individual
Investors Learn from Their Mistakes?»
Not exact matches
The necessity of
learning from past failures and adjusting your
investor pitch to avoid the
mistakes that have led many other startups down the road to failure has never been more important.
One of the key traits that has helped Ray Dalio build a remarkable career as an entrepreneur and
investor is the ability to reflect and
learn from his biggest
mistakes.
Rather,
investors have seen numerous resilient entrepreneurs
learn from their
mistakes and have a big success after one or more failures.
Fortunately for
investors, the company appears to be
learning from its
mistakes, diversifying its brands and executing a broad - based growth strategy that doesn't rely on any one fad or channel to drive increases in sales.
[01:10] Introduction [02:45] James welcomes Tony to the podcast [03:35] Tony's leap year birthday [04:15] Unshakeable delivers the specific facts you need to know [04:45] What James
learned from Unshakeable [05:25] Most people panic when the stock market drops [05:45] Getting rid of your fear of investing [06:15] Last January was the worst opening, but it was a correction [06:45] You are losing money when you sell on corrections [06:55] Bear markets come every 5 years on average [07:10] The greatest opportunity for a millennial [07:40] Waiting for corrections to invest [08:05] Warren Buffet's advice for
investors [08:55] If you miss the top 10 trading days a year... [09:25] Three different
investor scenarios over a 20 year period [10:40] The best trading days come after the worst [11:45] Investing in the current world [12:05] What Clinton and Bush think of the current situation [12:45] The office is far bigger than the occupant [13:35] Information helps reduce fear [14:25] James's story of the billionaire upset over another's wealth [14:45] What money really is [15:05] The story of Adolphe Merkle [16:05] The story of Chuck Feeney [16:55] The importance of the right mindset [17:15] What fuels Tony [19:15] Find something you care about more than yourself [20:25] Make your mission to surround yourself with the right people [21:25] Suffering made Tony hungry for more [23:25] By feeding his mind, Tony found strength [24:15] Great ideas don't interrupt you, you have to pursue them [25:05] Never - ending hunger is what matters [25:25] Richard Branson is the epitome of hunger and drive [25:40] Hunger is the common denominator [26:30] What you can do starting right now [26:55] Success leaves clues [28:10] What it means to take massive action [28:30] Taking action commits you to following through [29:40] If you do nothing you'll
learn nothing [30:20] There must be an emotional purpose behind what you're doing [30:40] How does Tony ignite creativity in his own life [32:00] «How is not as important as «why» [32:40] What and why unleash the psyche [33:25] Breaking the habit of focusing on «how» [35:50] Deep Practice [35:10] Your desired outcome will determine your action [36:00] The difference between «what» and «why» [37:00]
Learning how to chunk and group [37:40] Don't
mistake movement for achievement [38:30] Tony doesn't negotiate with his mind [39:30] Change your thoughts and change your biochemistry [40:00] The bad habit of being stressed [40:40] Beautiful and suffering states [41:50] The most important decision is to live in a beautiful state no matter what [42:40] Consciously decide to take yourself out of suffering [43:40] Focus on appreciation, joy and love [44:30] Step out of suffering and find the solution [45:00] Dealing with mercury poisoning [45:40] Tony's process for stepping out of suffering [46:10] Stop identifying with thoughts — they aren't yours [47:40] Trade your expectations for appreciation [50:00] The key to life — gratitude [51:40] What is freedom for you?
Yes that struck me too, how many
investor out there do you know that are truly willing to
learn from their
mistakes?
I like to think I'm a pretty solid
investor these days, but a big reason for this is that I've
learned from many
mistakes along the way.
It speaks to an incredible failure of Wall Street to
learn from its
mistakes (or at least the
mistakes that it foists onto unsuspecting
investors), and the likelihood of making nearly the same
mistake for a third time in just over a decade.
All
investors make bad judgement calls at one time or another, but it's what you
learn from your
mistakes that's the most important thing.
Investors can definitely
learn a lot
from Spiegel, who points out that sound thinking requires that we understand our
mistakes and become more aware of our thought processes.
If you have an idea in the future which you would like to commercialise,
investors will respect your experience and what you have
learned from your
mistakes.
But don't let yourself be overwhelmed: Even if you make some
mistakes early on, you'll
learn from them and become a better
investor for it.
Making
mistakes is part of the
learning process for all
investors, but all too often, it's plain old common sense that separates a successful
investor from a poor one.
Despite this objective, an
investor will always make some emotional and psychological
mistakes, but if you can do things like
learn from your
mistakes, use techniques like checklists, have the right emotional temperament, exhibit a strong work ethic and are a «
learning machine,» he believes some
investors can outperform the market.
While the adviser can't necessarily be blamed for that — many
investors overestimate their ability to deal with losses — there is no excuse for not
learning from the
mistake.
Learn from other
investors»
mistakes and avoid making such
mistakes.
Confessions of a Value
Investor (Part I & II): A series of posts where I confess my
mistakes when investing and what I've
learnt from those experiences.
Bottom line: Investing is a long journey and there are bound to be few
mistakes but knowing about them and
learning from them is how an
investor can create a portfolio that realizes his / her financial goals.
There is nothing best to
learn from each other's
mistake and be a savvy value
investor.
Perhaps he is such a great
investor because he owned up to and
learned from his
mistakes.
At least McQuaid did
learn from one
mistake: He
learned to put all the risk on the shoulders of Kickstarter backers instead of his own company and
investors.
Even though EOS is far
from reaching Ethereum's current price, EOS developers, users and
investors have declared this decentralized platform to be their main competition, so they are
learning on Ethereum's «
mistakes», correcting the issues they are addressing already at the core of the development.
Just as you were a «new»
investor at some point, everyone does not become established and know everything over night, people make
mistakes, and just like I did, they
learn from them.
Learning from other experienced
investors, having folks to bounce ideas off of and look at your deals will save you a lot of time, money and keep you
from making costly
mistakes that could be avoided.
Learn about top
mistakes new landlords make when selecting tenants and how to avoid those pitfalls
from Real Estate
investor, Mark Ferguson.
Newbies and Experienced
Investors are invited to come out, ask questions, get those questions answered, take notes and
learn in a new way to save you
from costly
mistakes.
We also host monthly networking luncheons on the first Friday of the month
from 11:30 AM to 1:30 PM where you will have the opportunity to converse with fellow
investors to
learn tricks of the trade, investment strategies, their successes and ways to avoid
mistakes.