“We’re in the oil business & as in any business the probability of success must always be greater than the risk incurred.”
– sourced from Google Images
These were the words of Captain George Pollard from the Ron Howard film, “In the Heart of the Sea”.
Before I go into the why, here’s the what –
The Ultimate Productivity Tool for an Investor, surprisingly, is “Commuting”
I have been working out of an office for the past 7 years now, which means, each day I spend 1 hr 20 mins one way (door to door). Fortunately I don’t have to juggle multiple modes of transport. In the beginning this routine was non-intrusive, then it became a nuisance & then suddenly it became invisible.
Exactly four years ago, I wrote about Productivity Tools for Investors. You can read it here. This post is an attempt to update it with new productivity habits I’ve picked up over the years.
After the demise of Google Reader which used to aggregate alerts & news items via RSS feeds, Feedly and other such tools have taken over that role. Although I’m not a huge fan of RSS anymore & you’ll know why soon. I’m still a devoted Evernote user which helps me remember stuff & organise it the way I want. I also use mind maps but I have found the softwares a bit cumbersome & the maps difficult to remember. So I went low-tech & now draw my mind maps by hand. I remember them much better. Updating them is a pain, but it was worth the effort. (But this works for me & may not for others).
By Raunak Onkar | [email protected]
We use language to think. The grammatical elements of any language help us express our thoughts better. That can pose a problem while thinking with incomplete information. In that case our emotional state can sway us into believing our own thoughts.
Take investing in stocks for example. It is a guarantee that no matter how well researched the investment idea is we are bound to have some gaps in understanding. We have no choice but to allow for some margin of error to protect us from any temporary setbacks.
One way would be to know our biases but that’s a theoretical solution. To reach a more practical solution we need something that is easy to test & which applies across all our thinking.
By Ankur Mahajan, [email protected]
“We’ve done a lot of stupid things but we’ve avoided a small subset of stupidity and that subset is important. It’s about avoiding the dumb things” – Warren Buffet
There have been a considerable number of arguments and an equal number of blogs and posts written about the plight of a retail investor. One of the prime subjects have been the many grounds where a typical investor conks out to make returns in the market. “Market makes returns, but the investor doesn’t” has become the slogan of the Aam Investor (on the lines of aam aadmi). And there have been umpteen reasons attached to the same. Some of them being getting carried away by greed and fear, investing after the bull run, redeeming during the bears, chasing fancies, investing without understanding, etc. While it is easy to blame the investor on the lines of an aam aadmi who pay taxes but abstains from voting, there is a compelling need to question the role of your advisor and his ability to avoid deviating from the fundamentals.
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