investment2rich

9. Eight qualifications for success

In order to be a sport expertise and ability are accepted and size to win the award. In addition of players must have good basic skills, they need to train yourself on a regular basis as well. It shows that the success and the winner usually have the different styles to play in each match. The [...]

In order to be a sport expertise and ability are accepted and size to win the award. In addition of players must have good basic skills, they need to train yourself on a regular basis as well. It shows that the success and the winner usually have the different styles to play in each match.
The same as investment, we must try to find the style of play which suits ourselves and we have the confidence to do that to won the game for investment, and then try to evolve our own one – like no other and unique style. Nobody knows that your own investment style may be highly successful in the future. The successfully expert investors all have the following similar qualifications.

Qualification # 1: The knowledge (Breadth).
The study found that a successful investor is always eager, interested in stories around the information that is directly related to investment. They also focus on other things such as George Soros is interested in philosophy and activities into several related global politics. A good investor is interested in various not only border himself with only one specific thing, especially in the world today, events occurring in one hemisphere may affect other countries widely even in a country where one hemisphere may be affected very quickly and unexpected crisis. For example, “Tom Yum Kung” in the year 2540 of Thailand has shaken the global financial system etc.

Qualification # 2: Observation.
Investors should wear a good spirit detective, be observant, pay attention to detail, and to remember important information of various stocks. The more details you remember, the more closely you will have the ability to identify and analyze the impact assessment under the circumstances quickly than others. Say that Warren Buffet who is observant, he remember many details of the company that he is investing as if his is like “The Dynamic Encyclopedia”

Qualification # 3: Unprejudiced (Objectivity).
Psychologists have suggested that humans are “social animals”, when it comes to gathering and to avoid social problems with others, it is a tendency to make decisions in a manner amenable to the current hits that most people do. This causes the behavior of “Herd instinct” as the animals that usually amenable to the leader in a herd. Investors who are successful will have an independent thought and not be obsessed by the current majority because of these errors tend to occur repeatedly and run into a behavior that can be predicted in advance.

Qualification # 4: Discipline
Investors must have the patience to wait. Because opportunities or good ideas for high yield investments does not happen every day as Warren Buffet’s discipline of investing is very high. He has said that the keys to his success are to be patience, tolerance, waiting for chance, not to decide by forward current opportunities and when the opportunity comes to be. “Striking the first to force” (Term used in a baseball game, a sport that is popular for Americans) because good opportunities does not always come into a person’s life.

Qualification # 5: Depth
Typically, the “depth” will occur when people concentrate. This will enable us to provide firm focusing on something and with independently. Soros will not let anyone interfere with him when he is trading, even during the market volatility is high and there is some big news to the impact, he still not allowed anyone to summarize and analyze the impact to him until he has completely “manage” his investment.

Qualification # 6: Creativity
Successfully investors need to see an overview of common things such as the Thai economy, global economy, especially economic power of various countries, including the relationship between various important factors such as interest rate, Exchange rate, oil prices. Otherwise he would not seize the occurring opportunities and unable to deal with risks that may also occur.

Qualification # 7: Passion
Expert investors “love” investment career. They are happy of what they are doing rather than thinking about the returns. Warren Buffet has always said that he … Enjoy the process rather than the proceeds … having fun with the “effective” rather than considering “benefit.”

Qualification # 8: Flexibility
People will be successful in investment must be ready to accept the opening of new data and changing perspective all the time. Especially they know well that the attaches to the idea/belief will throw a great opportunity (“Curse”) or cause serious damage to investors (“flying machine fall”). The point is that successful investors should dare to admit the truth, if the decision was wrong they should accept “cut losses” in early. But when decisions are correct, they should let it “run profits” by not immediately sold it to the left.

This is the qualifications that all successful investors have. If you are a person who interested in investing for future financial independence, these qualifications can be applied to your investment and if you are interested in learning investment strategies and personal financial management, do not miss the book sets “the wealthy tips (not secret) to financial freedom” all the 4 books from The Stock Exchange of Thailand.

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