Traits of Investing Success
18 Traits and Practices that Lead to Investing Success
All true investors exhibit certain traits, beliefs and characteristics. This is a compilation of those attributes I call the investor's manifesto. Not only the investor's manifesto help you make the most of your money, they'll help you enjoy your life.
1.) I am not afraid to take risks.
2.) My family and friends are more important than my portfolio.
3.) I refuse to be a victim. If my company will not promote me, I will work, save, and invest to make my own pay-raise.
4.) I understand the difference between price and value. Price is what you pay. Value is what you get.
5.) I don't own a piece of stock - I own part of a business
6.) I understand the limitations of financial advisers - if they were always right they wouldn't still be working.
7.) I put money away on a regular basis, whether it is every week, month, or quarter.
8.) I invest in myself. Every day, I learn something new. It can be taking classes at the local college, studying art, or learning a new job skill. I am my most valuable investment.
9.) I understand that the most important part of the wealth equation is time. Rs. 100 invested tomorrow is not worth nearly as much as Rs. 100 invested today.
10.) I don't feel the need to brag about my wealth.
11.) In my mind "short-term" is at least five years.
12.) I understand that checking the price of my investments on an hourly or daily basis is unnecessary and a waste of my time. As long as the fundamentals of the company have not changed, the day to day fluctuations in price do not bother me.
13.) My time is one of the most valuable assets I have. Therefore I use it wisely.
14.) Every year, I read the annual report of each company I have invested in.
15.) I never put money into a company without first knowing what the stock is really worth [not what the current market price is] and my reasons for buying it.
16.) I know that investing without research is gambling.
17.) I understand that over time, those who choose the buy-and-hold method outperform those who frequently trade.
18.) I always reinvest my dividends.
© N.M. Finserv ---- www.nmcomp.com/finserv
December 2004
All true investors exhibit certain traits, beliefs and characteristics. This is a compilation of those attributes I call the investor's manifesto. Not only the investor's manifesto help you make the most of your money, they'll help you enjoy your life.
1.) I am not afraid to take risks.
2.) My family and friends are more important than my portfolio.
3.) I refuse to be a victim. If my company will not promote me, I will work, save, and invest to make my own pay-raise.
4.) I understand the difference between price and value. Price is what you pay. Value is what you get.
5.) I don't own a piece of stock - I own part of a business
6.) I understand the limitations of financial advisers - if they were always right they wouldn't still be working.
7.) I put money away on a regular basis, whether it is every week, month, or quarter.
8.) I invest in myself. Every day, I learn something new. It can be taking classes at the local college, studying art, or learning a new job skill. I am my most valuable investment.
9.) I understand that the most important part of the wealth equation is time. Rs. 100 invested tomorrow is not worth nearly as much as Rs. 100 invested today.
10.) I don't feel the need to brag about my wealth.
11.) In my mind "short-term" is at least five years.
12.) I understand that checking the price of my investments on an hourly or daily basis is unnecessary and a waste of my time. As long as the fundamentals of the company have not changed, the day to day fluctuations in price do not bother me.
13.) My time is one of the most valuable assets I have. Therefore I use it wisely.
14.) Every year, I read the annual report of each company I have invested in.
15.) I never put money into a company without first knowing what the stock is really worth [not what the current market price is] and my reasons for buying it.
16.) I know that investing without research is gambling.
17.) I understand that over time, those who choose the buy-and-hold method outperform those who frequently trade.
18.) I always reinvest my dividends.
© N.M. Finserv ---- www.nmcomp.com/finserv
December 2004
posted by N.M. Finserv at
5:05 PM
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