Who you are is how you invest
October 08, 2007
– Comments (3)
Emotions- including fear, lust, greed and insecurity- affect how we invest. What risks we take, how we react to news, etc.
Our biographies affect our emotions. The facts that I am immersed in Scripture, am a happy, contented person who doesn't really have many material needs or desires; and have been humbled by the market in the past, all affect how I manage my investments.
My main hobby is running ultramarathons. I've run about 40, ranging from 50K (31 miles) to 100 miles, including the Hardrock 100, one of the toughest races on the planet (you could look it up!). To successfully complete an ultramarathon, you have to start slow and pace yourself properly and be patient. You have to be disciplined and patient about your training and preparation also. If, instead of running ultras, I was into high-adrenaline sports that give a quick rush, I would probably be a much different sort of investor.
Lessons from the trails (thousands and thousands of miles) carry over into my investing. Next Saturday I'm running in the Dick Collins 50 mile race, but it's really only a training run for the ultra-tough HURT 100 mile race in Hawaii in January.
You don't have to run ultras, but what you do with the rest of your life will determine what kind of investor you are.
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