Let’s Start with Safal Niveshak
Just in case you missed any of this on Safal Niveshak over the last few days…
- In life and investing, “It will never happen to me!” is a widely held but dangerous notion. You must avoid it at all costs!
- There’s this one great investment you can ever make for yourself and your loved ones. I’m already making it. What about you?
- Here’s your chance to get into the mind of one of the best Indian investment thinkers. Prof. Sanjay Bakshi agrees for a second interview for Safal Niveshak. Ask him your question here.
Join The Safal Niveshak Mastermind, my special one-year course in Value Investing to reinvent how you invest and take control of your financial life. Click here to know more and subscribe. Subscriptions for the first batch close on 25th August 2013!
Here is what Howard Marks writes on investing defensively in his amazing book The Most Important Thing…
When friends ask me for personal investment advice, my first step is to try to understand their attitude toward risk and return. Asking for investment advice without specifying that is like asking a doctor for a good medicine without telling him or her what ails you.
So I ask, “Which do you care about more, making money or avoiding losses?” The answer is invariably the same: both. The problem is that you can’t simultaneously go all out for both profit making and loss avoidance. Each investor has to take a position regarding these two goals, and usually that requires striking a reasonable balance. The decision should be made consciously and rationally.
Stimulate Your Mind
Here’s some amazing content I read during the week gone by…
- Handy list of some great books on the psychology behind human decision making and irrationality
- Great, practical way to avoid death!
- Bihar orders head-teachers to taste all school lunches before they are served to children. Now that’s a simple solution to a complex situation.
- Anyone can learn from their own experience. The competitive advantage comes from being able to learn from the experience of others. Now, what about learning from history’s most hated?
If you haven’t done it already, sign up here to receive Poke the Box in your email…and get ready for stimulating Saturday mornings.
Play like a child.
Please avoid death.
Till next weekend…
Chief Poker – Poke the Box