Let’s Start with Safal Niveshak
Just in case you missed any of this on Safal Niveshak over the last few days and weeks…
- Safal Niveshak got featured among worthwhile value investing blogs to read at Graham & Doddsville and Old School Value. Feel happy and motivated!
- I recently interviewed PV Subramanyam aka Subramoney who dispelled some great yet simple ideas on wealth creation. Read the complete interview here.
- I met one of the happiest persons on the planet recently. You’ll be amazed at what keeps him happy. Read here.
- I turned thirty-six recently. Here are 36 invaluable lessons I learned over these years, which may serve as a helpful guide for those just starting out.
- There are several timeless lessons you can learn on life and investing from Guy Spier’s Education of a Value Investor. Read five of them.
- Two of the world’s geniuses – Stanley Druckenmiller and Isaac Newton – have some lessons to teach us on why we must not speculate, especially during bull markets. Read here.
I have been reading Edwin Lefèvre Reminiscences of a Stock Operator over the past few days. It’s a brilliant first-person account of the career of “Lawrence Livingston”, who is a slightly fictionalized version of Jesse Livermore, one of the greatest stock speculators of all times.
Here is a brilliant excerpt from the book that is invaluable for anyone still doubtful about the benefits of long-term investing…
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!
It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it.
Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn.
…a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money.
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
Pascal said that all of humanity’s problems stem from man’s inability to sit quietly in a room alone. It’s so true!
Just sit tight. Don’t do anything and don’t play around with your stocks. That way, you’ll not just cut out stress from your investing process, but be better off at the end of it.
Stimulate Your Mind
Here’s some amazing content I read in recent times…
- My friend and long time tribe member Jana Vembunarayanan has written a wonderful post on the power of habit. Read this post, and subscribe to Jana’s blog. You’ll thank me in the future!
- Prof. Sanjay Bakshi has nicely and simply explained why commodities are difficult businesses to understand and invest in. Read here. Also watch the video he shared of a lecture of Amit Wadhwaney at MDI Gurgaon.
- Saying ‘no’ to a lot of things is a hallmark of a sensible investor. Farnam Street writes of eight ways you can say ‘no’ with grace.
- An interesting article on the Indian automobile industry and how it is blind, ethically.
- Getting rejected by Harvard was the most pivotal moment of the life of Warren Buffett. Read here why.
- How do you adapt value investing to the Indian environment? Some nice perspectives here.
- Joel Greenblatt discusses his value investing formula – how to find inexpensive stocks that represent good values.
- Do companies exist merely to generate economic returns to their owners, the shareholders? James Montier of GMO suggests this is the world’s dumbest idea.
Sit tight on your stocks.
Don’t do much, just be.
Aim to live wide, not long.
Be kind to others, and to yourself.
Chief Poker – Poke the Box