25 simple investing rules that everyone forgets
(ORDO NEWS) — In the world of trading, where numbers, complex odds and intricate charts reign, you begin to forget about the simple and such obvious things. It’s time to remember them.
1. Identify your weaknesses and don’t let them take over.
2. Self-confidence is hard to come by. To find it, you have to go through fire, water and copper pipes.
3. Remember, things don’t always go according to plan (and a contingency plan is needed in this case).
4. Every invention that subsequently changed the world was once ridiculed by someone.
5. As a rule, the majority opinion is correct.
6. Work in companies you would like to invest in and invest in companies you would like to work for.
7. You have to pay for everything – not necessarily with money. Sometimes it can be bitter and frustrating. And investment income is no exception.
8. Most great companies rely on customer desires and competitive paranoia.
9. Most great investors bet on patience and go against forecasts.
10. Sometimes going against it is just being an irrational cynic.
11. There are three ways to run a successful business: solve the client’s problems, please the client, take advantage of the client’s weaknesses.
12. Solving client problems takes a long time, but brings the best income.
13. The biggest risks will not be reported in the news, so people are not ready for them.
14. Pacifying desires is like effective asset management, only without the risk of a fall in the exchange rate.
15. No spreadsheet will allow you to calculate the level of trust and honesty, so sometimes dry checks and analyzes will not be hampered by a note of subjectivity.
16. Read less predictions and more history.
17. Take a break from victory stories and study defeat stories.
18. Deny today’s universal beliefs as easily as they are imposed on you. The wind will change tomorrow.
19. Too strong a commitment to political views is beyond common sense.
20. Learning to deal with inevitable setbacks is much more realistic than trying to avoid risk altogether.
21. Everything is ten times more complicated than it seems at first glance.
22. And solutions, on the contrary, turn out to be ten times simpler.
23. The best cure for overconfidence is to constantly remind yourself that in your life you have discovered no more than 0.00001% of this wonderful world.
24. Very overrated: forecasts, goals, multitasking.
25. Grossly Undervalued: Options, Systems, and Getting along with People of Opposing Views.
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