Hey Investor, Ignoring the Crowd Isn't Easy!

Think about some of the most memorable people that you’ve ever met or known about.  What was it about them that made you remember them?

In terms of famous people, it’s interesting how some of the most admired people now were made fun of by the majority, the “crowd”, while they were growing up or before they became famous.  They were considered weird, different, or unusual because no matter how much pressure they faced from society and even from their own family members, they stuck to who they were and what they believed in.  What they wore, what they did.  Then one day, through a combination of many factors including the results of hard work, fate, and so forth, they were noticed by the masses and suddenly they weren’t so weird, different, or unusual any more.  Think of the young Elvis Presley as a prime example.

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A Successful Investor Needs the Right Personality, not Just the Right Resources

Perhaps the greatest benefit to a person who wants to invest their money in this day and age is being able to access a nearly endless amount of information, analysis, and advice about a multitude of investment types, including stocks.  From T.V. resources like CNBC and Bloomberg and BNN and Cramer to web sites like The Motley Fool and Seeking Alpha, the amount of information at first can seem overwhelming.  Not only are the days of having limited resources gone but also having to wait for some resources, like investing newspapers and newsletters, to arrive in the mail.  You can now make investing decisions within minutes of learning about something and no longer days.

But once the dust settles and you have found a handful of favorite resources – or even only one or two – that align with your goals and levels of risk tolerance, the hardest part of investing begins:  finding out whether you have the personality to become a successful investor.

Continue reading “A Successful Investor Needs the Right Personality, not Just the Right Resources”