The Stocks and Savings Podcast 63. Seven Investing Lessons We Wish We Knew Earlier Which Would've Improved Our Mindset
Jul 17, 2024
Unlock the secrets to investment success with a farmer's approach! Discover how a strong mindset trumps stock-picking skills. The podcast emphasizes patience, likening investments to crops that need time to flourish. Learn to nurture your portfolio like a garden, recognizing the importance of regular contributions. The hosts share personal tales of overcoming market volatility and stress the need to remove underperforming stocks while focusing on quality investments. Get ready to embrace the seasons of investing!
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Mindset Trumps Stock Picking
- Your long-term investing success depends more on mindset than stock picking or timing.
- Treat emotions as the main risk to manage in investing.
Don't Shout At Price Dips
- Do not react emotionally to short-term price moves and avoid getting angry at falling shares.
- Instead, step back and focus on the underlying business fundamentals.
Slow Growth Often Reflects Your Choice
- If investments grow slower than peers, the decision usually lies with you, not the asset.
- Choose assets that match your risk tolerance and accept trade-offs between risk and reward.