Poor Investing is Just a Bad Habit

by | Oct 19, 2000 | Archives

Dear International Friend,

Most investors have many bad investing habits. One of the worst is the habit of trying to keep up with the world. Most of us are overwhelmed by the tyranny of adaptation. We feel we have to know as much or more as everyone else. This turns most investors financial logic upside down. We wear ourselves out and ruin our lives (not to mention our finances) trying to keep up

Merri and I worked to reverse this bad habit in the first two segments (we completed yesterday) of our Inspired Investing course. Numerous delegates who had joined us here at the farm told us that the course was life changing, the best they had ever attended. The full house included delegates from three continents, businessmen (some with eight figure incomes), retired MDs, food retailers, a banker, even a couple of unemployed. They were men and women and ages ranged from the twenties to the sixties. In other words, the group was from every walk of life.

What was the common link I wondered and after talking with the group came to realize that they all were at a stage in life where they were ready to make some important change.

So the main goal of the course was to turn our investing habits upside down. We are so bombarded (literally from the time we can understand language) with opinions and indoctrination from society, governments and a multitude of others. This lifetime indoctrination (and I am not talking about some conspiracy here-this is just the way the world works) leads us to develop some bad investing habits. Most investors spend their life investing the way others think they should rather than for themselves.

However we should be investing for ourselves, for our own unique personal wants, needs and desires. The thrust of the course was how (through economics) to know ourselves, how to determine which markets are really important to our unique needs and how to do something we love in these markets that sustains our finances and financial future.

I short, we learned how to know ourselves, how to know a few (or even just one) market and how to do something profitable about this knowledge.

The lesson today is slow down and do something right that you enjoy. This is more important to your wealth than all the study in the world. Today more delegates arrive for phase three of the course, and I have to head to the airport for a pickup. We'll continue. Until then, good and enjoyable investing!