The Courageous Everyday Investor, Ep 258
Unless your retirement plan is receiving an inheritance, you know that if you don't make this investing thing work, there's no plan b. Sure you could take a gamble with average and hope it'll be enough, but what if the future's going to be different? What if it's harder for a season to generate a meaningful return for a while? Well, you need to be an excellent investor.
While it’s easy say and hard to do, being excellent doesn’t need to be complicated: Just keep getting better at what you’re doing, then wait for the voices saying you can’t, to gradually fade away. Job done – you're officially most excellent!
Good is awesome when you've come from worse. It's a bit discouraging when the goal is to be safe though.
The rewards for safety are average returns.
The rewards for being courageous?
It's the satisfaction knowing that when you faced 'resistance', you leaned into it, and you prevailed.
In a world increasingly petrified of everything, making safety the primary investment objective could be one of the dumbest things to aim at.
Maybe we learn excellence with sport, business, public speaking, leadership, whatever – but can we apply the same principles of pushing through to the world of investing too?
In this episode with Cole Hauptfuhrer from www.findfatfish.com, we’re going to talk about being excellent at picking individual stocks.
Wait a minute! You can’t outperform the market!
You’ve seen the slides and stats (at events sponsored by the passive fund managers) - it’s hard and often impossible to beat the average, especially consistently through time.
So in other words don’t bother even trying – you don’t want to gamble your retirement trying to prove statistics wrong do you? Perhaps it’s true that the most efficient way to get a compounding return from the market over time is through low cost managed funds though.
It’s efficient, but is it best? More importantly, is it best for you?
Cole Hauptfuhrer is not a financial adviser, he doesn't handle 'client money', and he does not provide an investment recommendation. For more information, please check out www.findfatfish.com
Ask me anything, suggest a topic, or a guest!
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