The Pig Seeks Enlightenment – Know Thyself
This Pig has started learning to walk on 2 legs trying to avoid the fate of the fellow pigs, sheep, cows and chickens ……
知己知彼，百戰不殆
(pinyin: Zhī jǐ zhī bǐ, bǎi zhàn bù dài)
Literally: Know yourself and know your enemy, a hundred battles and you won't be drained.
Meaning: If you know both yourself and your enemy, you can win a hundred battles without a single loss.
Spend less time studying your investments and more time studying yourself. That's because how much money you make in an investment often depends far more on how you behave than on how it does. "It's people that lose money," says Patrick Chitwood, an investment adviser in Birmingham with a Ph.D. in psychology. "It's not investments."
How to handle Market crash, Jason Zweig , 1 Jan1997, http://money.cnn.com/magazines/moneymag/moneymag_archive/1997/01/01/220939/index.htm
I survived despite all my ignorance. I like to attribute to luck but I, unashamedly think I have certain characteristics that helped and other traits that hinder me in investment.
非理性情绪
Homos mistakus
Not only we are sometimes irrational but we are predictably irrational.
Our emotions and much of our decision making process is ….. developed for survival … some 100,000 years ago ….quite useful. What works for survival in the African jungles is not productive in the jungles of world finance.
By understanding ourselves and the way we make decisions, we can often create our own systematic process for making the right choices.
James Montier, How Not To Be Your Own Worst Enemy,2010
The Little Book of Behavioral Investing
John Wiley & Sons Inc 2010
If it is luck, can I continue investing – luck will run out? I do not want to depend on something as instable an element as luck. I want to take responsibility for my money and investment.
幸运
When we say that someone has fallen on bad luck, we relieve that person of any responsibility for what has happened. When we say that someone has had good luck, we deny that person credit for the effort that might have led to the happy outcome? But how sure can we be? Was it fate or choice that decide the outcome?
Peter L Bernstein, Against the Gods
(The remarkable story of risk), 1998John Wiley & Sons, INC, Page 197
Know thyself 知己
As market commentator, George J.W. Goodman (“Adam Smith”) once said, if you don’t know who you are, the stock market is a very expensive place to find out.
Zweig, J. (2010). The Little Book of Safe Money. John Wiley & Son Inc. Pg 213
Starting this blog
A real time investment diary can be a very real benefit to investors because it helps to hold us true to our thoughts at the actual point in time, rather than our reassessed version of events after we know the outcomes.
An investment diary is a simple but very effective method of learning from mistakes and should form a central part of your approach to investment.
James Montier, How Not To Be Your Own Worst Enemy, 2010
John Wiley & Sons Inc
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