Investment Attributes: Humility
There are certain attributes that a person can develop to help them in any activity. To use a sports analogy there are certain muscles or body systems that are key for certain sports. You don't need endurance for weightlifting and you don't need incredible power for long distance running. So what are the skills or attributes needed to be a good investor? I will list a number of them and will try to talk about one each month going forward. In my opinion the following attributes are key to becoming a successful investor. Curiosity, Patience, Humility, Conviction, and Discipline Humility: Humility is the toughest attribute to cultivate, as soon as you think you have it, that is when you lost it. From an investment perspective, the market is going to do what it is going to do and we have no control over it. We sometimes think we are smarter than the market, maybe you think I believe I am smarter than the market because I am trying to beat it. Not so...