I wish you a very happy, healthy, peaceful, and fulfilling 2017.
Life is short (it’s already almost six years since I started Safal Niveshak), so let me not waste another moment and thank you for being here for me.
As we begin 2017, let’s not start with New Year resolutions that anyways don’t last till 5th of January. Let’s start with some acceptances that you should come to terms with in 2017 and beyond.
Print what follows below – Your Note of Acceptance as an Investor – and look at it every day. It might help you deal better with the reality of the investing world.
Here it goes…
I ACCEPT THAT…
- I will act stupid and envious at times and make mistakes, how much ever intelligent I am, and whatever resolution I make to avoid all mistakes this year.
- I, or anyone else, have no clue about the impact of macroeconomic or socio-political events on my investments.
- I, or anyone else, cannot predict the future of markets with any degree of accuracy, however certain things look like.
- I will lose a lot of money over time if I invest on tips, in bad businesses, with bad managements, and in expensive stocks.
- I may create wealth from stock market in the long run only if I practice patience in owning good businesses, not when I chase multibagger returns.
- Luck will play an important role in my investing, and especially when I make high returns in quick time.
- However good my investment process is, the outcome at times may not be to my liking.
Finally, it’s good to admit and accept that the future is inherently unknown and unknowable, and that there is no point blaming “uncertainty” for your investment mistakes and losses. Relax, and learn to appreciate the thrill of finding out what happens next. That’s the best part of being a stock market investor.
What you can control is your own behavior – and only to a certain extent – and how you respond to whatever happens around you. For all things outside your control – including return on your investment – there is no point fearing the future.
Stay happy, healthy, and peaceful.
Happy New Year!
P.S. The idea of this post comes from here.