10 Thoughts on Investing That I’ve Learned from the World’s Best Investors
I’m no investing expert (I’ve only been playing in the sandbox for about a year), but I have learned a lot in a year’s time from actual investing experts like Mark Cuban, Ray Dalio, and Morgan Housel.
This is what I’ve learned to help minimize losses and maximize gains:
- Smart investing is more about mastering your own psychology than trying to strategize or time the markets.
- Don’t invest to get out of trouble. This will only make you more emotional. Only invest what you can afford to.
- Patience is a competitive advantage. 99% of Warren Buffet’s net worth was earned after his 75th birthday. His secret? Time.
- Only invest in things you, or your really smart friends, strongly believe in.
- Buy and hold those assets that you believe in for dear life.
- Don’t hesitate to place a bet on a new idea your smart friends tell you about. “If you wait for society to educate you, you’ll be too late” (h/t George Mack).
- “The best time to plant a tree was 20 years ago. The second best time is now.”
- Past performance does not guarantee future success. Especially true when looking at various altcoins/crypto projects to invest in. Many don’t have the model or grit to survive in the long run. Choose wisely.
- Don’t put all your eggs in one basket. Diversify. Diversify. Then diversify some more.
- Never be afraid to take some risks. Small bets on new projects could yield huge payoffs. 90/10 is a good rule-of-thumb: 90% “safer” investments, 10% risky.
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