Patience and temperament in the stock market
Odds are, that while you’ve started to read this article, at least 3 different notifications have popped up on your smartphone simultaneously. The next question you ask yourself is – “Should I continue reading this or go click on that Good Morning message shared by Mr. Sinha on our society Whatsapp group”. More often than not, you will click on that notification.
Let’s take the same principles to your investment portfolio. In a world where your attention span is being traded for actual currency; how do you partition your mind to think rationally when it comes to your investments? How do you keep your eyes on the long-term prize?
Let’s admit it, long term investing is tougher than most people think. It takes an almost monk like patience to resist the allure of today’s alternate investment tools, and the supposed “returns” they promise (read: Futures & Options / Cryptocurrencies). Yet, how many stories of genuinely profitable traders have you heard? A handful, at best.
“Nobody wants to get rich slowly”
– Warren Buffett
Hence, to become a monk, one must enter a monastery as a postulant and prove themselves worthy of being called a monk. Life will throw many desires one’s way in the form of temporary gratification, which the postulant is free to chase by leaving the monastery at any time. But the true test of one’s character, is staring them in the face and continuing to live their chosen path. Unaffected. Unfazed.
Be a monk in the markets!