Showing posts from December, 2021

How to Celebrate Your Wins and Uplevel for Next Year

A new year is coming up and I want to give you some resources to end the year on a high point and get a great start to the new year. I realize this is going to be a long one, so let me help you out with a guide to this article. In the first part, I’ll share my best ideas about how to celebrate success. The next part is about setting goals and what to do to follow up. I end the article with some reflections of my own year. Read all sections or just the one that will inspire you. Celebrate Your Wins In October I read the book “The Long Game” and attended an HBR Webinar with the author Dorie Clark. One learning that resonate with me, is that we must celebrate even a small raindrop of success. Because raindrops accumulate (compound) over time and could lead to something bigger. And who wouldn’t like success to rain down on them?  Here are some ideas to celebrate your success: Open a spread sheet and write a note every time you have success – it could be just a “raindrop” or a big game chan

What Are the Steps to Investing Mastery?

If you want to master investing you must practice. Earlier I’ve described and shared a monthly investing practice   but there are other ways to learn and today I’ll share Tony Robbins 3 steps to Mastery. Earlier this month I participated in Tony Robbins’ Date With Destiny (if you'd like to know more about DWD there's a documentary about it on Netflix. It's called "I'm Not Your Guru").  What I admire about Tony Robbins besides his mission to spread love and to contribute, is his approach to learning and adopting patterns. Tony have interviewed some of the best investors in the world in order to learn how to be a successful investor. Investors like Ray Dalio (please do read his books, they're so important), Sir John Templeton, and John Bogle and many other successful investors have contributed to Tony Robbins knowledge.  Even Warren Buffett gave Tony Robbins advice though I wish Buffett had shared better information with Tony Robbins because Buffett’s uniqu

Why Does Charlie Munger Say: Waiting Is the Most Important Skill?

Waiting - can you believe patience is the most important trait for an investor? According to Charlie Munger, who is one of the most successful investors of all times, we should practise patience and excel in waiting. And waiting starts right from the beginning. Once we've done our research and found a wonderful business or two, you'll find that there isn't really much to do because your valuation showed a stock price that's far from the current stock price (because we want to buy with a margin of safety in case we made any errors in our business case). Your valuation price is $50 and the stock sells for $150 - will it ever go down? Now the waiting starts. The waiting for the stock price to come down to a great price. Once the stock price is right, and we've bought the stock an even more difficult waiting period will come, where you might experience that your stocks go down (buy more) or stagnate for a while. Or go up.  But we're not in it to sell. We hang on for

What are the Best Free Websites for Investors?

What are the best free websites for investors? And how do you use them? I wanted to share this with you because there’s so much free information out there that can give you an amazing advantage. You can get a wealth of insights to a business and easily get an indication if the business is healthy or not by using the websites below.  Yahoo Finance You can use Yahoo Finance for news and numbers on wonderful businesses . When you do research on a wonderful business, you want to keep up to date with important news. I don’t read every single article because a lot of the updates aren’t necessarily important, but I keep myself updated. I can also see important numbers that I use for valuation of the business (calculating how much I should pay for the stock). Macrotrends You can use Macrotrends for getting data back in time, for example in the investor checklist , there’s an easy calculation using PE ratio (price-earnings) to find a desirable PE level for buying a stock. The

Why are Checklists Such Powerful Tools for Investors?

You might have followed me for a while, or you might be here for the first time – if you’ve been here before you have definitely seen me mention a checklist. Before I invest in a business, I use checklists. A checklist is not a to-do list, a wish list, or a shopping list. A checklist is a list that prevents me from making errors and in its core my goal with it is to:  1) not lose money and 2) to get a return that’s higher than the stock market average over 10 years. Not everyone likes checklists and to some people it might seem that only insecure people need checklist. But in multiple professions around the world checklist has proven to be the difference between life and death, between wealth and ruin. Pilots, doctors, and the most successful investors use checklists (Charlie Munger, Guy Spier, Mohnish Pabrai, Danielle Town, and Bill Ackman). Bill Ackman learned that the years he moved away from his checklist, was the darkest years in his investing career and when he came back to using