- Wealth PMS (50L+)
The awesome Devangshu Datta writes about Behavioural Quirks:
Very few investors have the self-awareness required to analyse their own performances as objectively. Even fewer possess the self-discipline to change bad methods. Yet, it often doesn’t take much in terms of time or trouble. All it really takes is the humility to admit that not all losses are due to ill-fortune.
Before entering into investing, an individual needs to ask himself a few questions. One is, how much is he prepared to lose? A second is, what is the minimum return he wants? The third is, how long is he prepared to wait for those returns? If the answers are honest and realistic, he has a template for investing methods. He knows his risk:return profile.
The idea is to have a little discipline. But like common sense, it’s hard to find!
(Disclosure: DD is a dear friend, but he’s awesome anyhow)