Importance of confidence just as one investor | The one key ingredient for achievement
Everybody knows the story about Warren Buffett buying Coca Cola. I hate that story. Why? Since most people miss the idea about Buffett’s success.
They start talking about his research method, how he values companies, his tips and tricks. His personality. His history, network and influence. The value of Coca Cola’s business etc. That every means nothing. There are many other businesses sticking with the same set of numbers that he could have invested in and probably did. We will never know because all the mainstream focuses on the fast sighted narrative.
After more than 10 years in investment markets inside them for hours met some of the brightest and quite a few successful minds in the commercial, I have discovered that the best ingredient to investor success is confidence. Confidence helps to make the difference.
Confidence in yourself may be the starting point.
Teaching yourself giving her a very bits, but then keeping the courage to back yourself. This is the first step. Don’t invest in anything until you are truly confident in your ability to make money. When you’re certain about yourself, loss doesn’t turned into a problem. You know that you are able to bounce back, learn from it and turn into even better.
Once you have pride in yourself, you then seek opportunities. This might take a long period of time. Don’t rush. An attractive investor understands opportunities are certainly not finite, they are abundant. This is why successful investors don't fret missing out on market movements.
Seeking opportunity vs. finding excuses
Having a positive investor seeks opportunity, an un-confident investors finds excuses to sway from opportunity. Un-confident investor (unclear if that is the right term, however i don’t care, you know what After all) is always unsure about themselves. Questioning industry, questioning the numbers.
The confident investor doesn’t watch the news or read the newspapers. He or she doesn’t care about the market, they are concerned about the deal plus they care about their own circle of influence. Whenever they look to the market, they are doing so with the aim of earning money. They slowly move the market environment within their circle of influence and outdoors of their circle of doubt.
How to build confidence as a possible investor
Here are the points I’ve done myself to create confidence as an investor:
Don’t look at news unless you are after the facts - This news is focused on reporting problems, collapses, discouraging opportunity. Not so great sells. This distorts your skill to find opportunity and may lead you to over complicate investing (which as time passes becomes simpler).
Surround yourself with the right people - There’s silly in taking advice from somebody who has never invested before or takes their opinions from the media. Find people who have built confidence, backed themselves and learnt important lessons they will can pass on to you.
Learn to lose - The top investors are the ones that can a loss and proceed. It doesn’t hurt them, in fact they actually enjoy it as it helps them learn important lessons that they may apply to future decisions.
Value yourself - A lot of people struggling with money think there exists a shortage of money plus they aren’t entitled to it. The fact is money is plentiful as well as when there are shortages, we print more. The very wealthy don’t think in shortages. Change your thinking to think with regards to money being abundant and plentiful. This isn’t some esoteric modern age concept but reality.