Part 6: Learn or How the heck do I ensure I reach Financial Freedom come what may?
6.2 Learn Productive Investing Behavior No.1
The immediate benefit of stopping your unproductive investing behaviours is better returns. Equally important is that it will free up your time to learn more about investing; leading to even higher returns. What are the 3 most unproductive behaviours that you must absolutely stop? How?
In the previous chapter we looked how to achieve mastery through a two-stage learning strategy. In Stage-1 what you learn and how you learn bring you to a level where you apply the fundamentals of making informed investing decisions skillfully. Essentially you become good at using the Process + System – data, information, analysis, tools and guidance and make your decisions.
This is a pretty high level of competence because you are using a robust investing method, making fewer mistakes, avoiding one that can set you back in a big way and earning good inflation-beating returns. However, if you were to ask me what would be the criteria that would assure you and me that you have cleared Stage-1 learning and ready to move to Stage-2?
I would ask if you have imbibed 3 habits that I consider essential for consistent success in Investing. Habit is the default way in which you will behave. And these are
- Do you still waste your time searching for what to buy?
- Do you have a filter on what investing-related content you will consume? If yes, what is it?
- How frequently do you review your portfolio?
I will elaborate on each one of them and help you commit to and acquire 3 Productive Investing Habits.
Productive Habit 1: Don’t waste your time searching for what to buy. Let Mr Market know your shopping list, your reserve price and let him get...........Read More
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