While The Stock Market Sucks – Keep Learning!

Date Added: November 23, 2018 | Comments Off on While The Stock Market Sucks – Keep Learning! | Filed under: Blog

The stock market is challenging right now as it undergoes great volatility in what I believe will ultimately be a change of leadership like I saw in the periods 1987-1990 and 2000-2007.

Whether I’m right or whether I’m wrong about the market the thing that I’m focusing on right now is continued learning. I believe that most successful investors, and in fact most successful (and interesting) people never stop their pursuit of learning.

For example, many successful investors have advocated the benefits of extensive reading.

I try to emulate these investor’s habits and in addition to the day to day reading I do in my business I generally have three books on the go at the same time. Right now I’m simultaneously reading about the history of debt crises, the career and thoughts of a successful European value investor, and finally about hillbilly culture – in an attempt to understand Donald Trumps’ support base.

In addition I subscribe to a service that provides curated essays and podcasts from people successful in a variety of fields and read those essays Sunday’s and listen to the podcasts while I drive here and there during the week.

We are bombarded with so much dubious information today, “fake” news, politically slanted news (CNN/Fox News), urgent but ultimately unimportant headlines, and short term thinking that it can be difficult to get to “truth”, and yet, getting to the truth can be a very important competitive advantage in investing.

I find that reading “literature” (preferably from a different century), listening to the words of good thinkers, and emulating their learning habits is a refuge from the daily bombardment of information that we are all subject to.

I also try to practise the habit of not contributing to a conversation about which I have only “cocktail party” knowledge but to vigorously express my view on a topic about which my learning has made me expert.

Scott


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