Comments on: 2 Big Differences Between Successful and Unsuccessful Investors

By: Joel

Joel — Fri, 16 Apr 2021 16:30:16 +0000

Cheers FLA! This topic was toying with me for a while before I was able to type it out. It’s easy to identify when people do the wrong things, but it’s hard to figure out the true root cause. It’s usually in the WHY.

Have a great weekend!!

By: FreshLifeAdvice

FreshLifeAdvice — Fri, 16 Apr 2021 15:51:20 +0000

Amen, Joel! I was nodding my head while reading the entire article. It’s all about intention. It all comes down to the underlying reasons of why you choose an investment. Couldn’t have said it better myself!

By: Joel

Joel — Thu, 15 Apr 2021 20:05:58 +0000

In reply to Gary Grewal. Cheers Gary!

By: Gary Grewal

Gary Grewal — Thu, 15 Apr 2021 17:15:16 +0000

These How and Why charts regarding investing are golden, Joel! This is the kind of article that needs to be shown in high school economics. I know I’ll be sharing this with my friends just starting out with investing. Very well written, you nailed the difference!

By: Joel

Joel — Mon, 12 Apr 2021 03:30:08 +0000

In reply to Success Triangles. Definitely easier said than done! The thing I love about Buffet is even he admits that even he makes mistakes here and there. We all do :) Makes me feel better about the dumb stuff I do.

By: Success Triangles

Success Triangles — Sat, 10 Apr 2021 15:10:25 +0000

Great read! I think Warren Buffet said it best with his advice to be greedy when others are fearful and fearful when others are greedy. In order to make money on any investment, you must buy it low (i.e., when everyone is fearful and selling) and sell it high (i.e., when everyone is greedy and buying). Sadly, most people do the opposite – buy when everyone is buying and sell when everyone is selling – and this of course results in losses.

You hit the nail on the head: you’ve got to have a viable strategy before you invest in something and have the discipline to stick with it no matter what everyone else is doing.

By: Joel

Joel — Wed, 07 Apr 2021 21:08:05 +0000

In reply to LadyFIRE. I'm not sure about the comment thing, but will look into it! Sorry!

By: Joel

Joel — Wed, 07 Apr 2021 21:06:10 +0000

In reply to Impersonal Finances. Wow - good find. I didn't know that!

By: Impersonal Finances

Impersonal Finances — Wed, 07 Apr 2021 18:54:58 +0000

I always think of this:

However, what Fidelity Investments found in their study was shocking. The average investor in the fund actually lost money. You read that correctly… The average investor lost money in the Fidelity Magellan fund under Peter Lynch’s tenure during a period of time when the fund returned around 29% annually.

https://www.alphawealthfunds.com/2019/08/the-average-investor-lost-money-in-the-best-performing-mutual-fund-in-history/

Investor psychology has a lot to do with investing. And even a “sure thing” isn’t so sure when emotions get involved!

By: LadyFIRE

LadyFIRE — Wed, 07 Apr 2021 11:26:35 +0000

In reply to Joel.

Thanks for the link, that’s a great post! I see my own thoughts reflected in that a lot, albeit at a much smaller scale. I’ll probably write an article about this at some point too, but not quite yet! Still need to get my thoughts a bit clearer :)

By the way, is there any smart way to sign up to follow comments on your blog? I’m super appreciative of your responses, but I always need to remember to check back here to see them :D I’m not suuuper tech-y, so I may be missing something really obvious, but I appreciate any pointers!