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March 2011

Recs

4

Maximize Edge, Minimize Risk

March 16, 2011 – Comments (0)

For investors who are serious about improving their skills, luck plays a disturbingly large role in investing success. In order to master most other skills, we go through the continuous process of learning, application of lessons learned, and receiving feedback. However, in the investing world, the crucial last step is treacherous. You may be learning the wrong lessons but pick stocks that perform amazingly - you got lucky. Or vice versa. What you internalize in your early years will largely determine how good you are as an investor, and deceptive feedback from the market can put you on the wrong track. This is why, in order to find what works, you need to analyze the process as an outsider, not as a participant. Your intuition cannot be trusted. From what I've learned in my short time as a stock market enthusiast, one lesson has rung true to me. I will try to put it into words here.  [more]

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