I thought I would put up a visual aid to further describe the point I was trying to make in this post. Also describes my mindset now in dealing with my health issues.
Here’s some highlights below:
In the last post I got into one of my major mistakes. In this post I will get into some of the specific stocks that I bought when I first started “investing”, why I bought them, what I did wrong, and what I would have done differently, so hopefully you can learn from me and not lose some of your own money.
When I first started investing actual money my version of research was looking up the specific stocks ratios, seeing how much cash and debt they had, and seeing what people online were thinking about the companies, and the “Vast potential” the company had. That was it.
At that time I did not read any annual reports or quarterly reports. Did not even look at their competitors at all. Took the numbers I found online at face value, without any questioning of the numbers or adjusting them to look more realistic. I did not do any type of valuation or strategic analysis. And I took what the analysts and other random people online were saying about these companies as the factual truth, not just speculation, which is what it was.
“You are neither right nor wrong because people agree with you.” Benjamin Graham
“In the short run, the market is a voting machine, but in the long run it is a weighing machine.” Benjamin Graham
“All intelligent investing is value investing-to acquire more than you are paying for. Investing is where you find a few good companies and then sit on your ass.” Charlie Munger
“The market is a no-called-strike game. You don’t have to swing at everything-you can wait for your pitch.” Warren Buffett
“Be greedy when others are fearful, and fearful when others are greedy.” Warren Buffett
“The important thing is not to stop questioning. Curiosity has its own reason for existing. One cannot help but be in awe when he contemplates the mysteries of eternity, of life, of the marvelous structure of reality. It is enough if one tries merely to comprehend a little of this mystery every day. Never lose a holy curiosity.” Albert Einstein
“Everything should be as simple as it is, but not simpler.” Albert Einstein
“I have no special talent. I am only passionately curious.” Albert Einstein
“You miss 100% of the shots you don’t take.” Wayne Gretzky
“I skate to where the puck is going to be, not where it has been.” Wayne Gretzky