The brightest people I have met share a superpower that would serve investors well - the ability to make inherently complex things simple and understandable.
🧠 11 of the best tweets by @jposhaughnessy
Jim Sir has a spectacular ability to simplify complex topics and put them in just a tweet or thread.
I scraped his entire tweet library - here are some of my faves 🔥🔥🔥
THREAD...
The brightest people I have met share a superpower that would serve investors well - the ability to make inherently complex things simple and understandable.
If you can change your focus, you can change your future.
Don’t spend a minute worrying about something that you can’t control. If something can’t be changed by you taking direct action, put it out of your mind.
Today’s society is overrun with useless distractions.
Things you learn as you get older:
Other people are far less interested in you than you think they are.
Investors:
Your "morning routine" doesn't matter;
Finding "clever hacks" won't help you;
Reading lists of "10 things all successful people" do won't help you;
Watching "motivational videos" won't help you.
What will?
Controlling your emotions, being patient and persistent.
These "if you'd invested, you'd have xxx dollars" memes are incredibly destructive to investor behavior.
They encourage hindsight bias by making it seem like it was incredibly easy to know what the stock would have done.
It wasn't then, it isn't now.
Markets change minute-by-minute.
Human nature barely changes millennium-by-millennium.
There's your edge.
Point drops in any index, be it the DJIA or the S&P 500, are meaningless.
All of these "3rd largest (point) drop in history" stories are meant to mislead and scare you. Don't let them.
The only thing that matters is by what % did an index or stock decline or advance.
One area where investors have an advantage over chess players:
In chess, there is a term called zugzwang, which means that even though the best move is to not move, the game compels the player to do so, often putting him at a disadvantage.
Investors are free to not move.
The only person you're hurting when you get continually 'outraged' about events outside your control is yourself.
Continual anger is a poison that if it were in a bottle with a skull & crossbones ☠️ on it, you would never drink.
