The ‘working title’ for this Blog when it was just a mere whisp of an idea in the WheelieBonce was ‘Only the Inexperienced Panic’ but the more I thought about it the more I felt this was a bit insulting and in reality we all panic but there are ways we can reduce such episodes and I wanted to talk about how to do this.
As usual with my Blogs, a lot of the ideas just come out of thin air and no doubt my Brain is triggered by something which seems unrelated that I then twist (probably much too far) into a topic loosely related to Investing !! My inspiration for this one came from the icon Thomas Weekes on ‘Misfit Garage’ on Discovery Turbo when he came out with the line, “My old daddy used to say, only the inexperienced panic”, and that cemented the thought in my head.
As always, if you have not endured Part 1 yet, you really should read it first or none of this will make any sense (I am not guaranteeing that it will make much more sense even if you do read Part 1 but at least you might have a fighting chance) and you can find Part 1 here:
In Part 1 I outlined why “You can’t time the Markets” comes about, but what are its flaws?
This Guest Blog has been kindly sent to me in order for Readers to see what Journal.Investments are providing in terms of a Website through which you can record information about particular Stocks in a structured way with various ways to analyse your performance and it is FREE to use. I first became aware of this perhaps a year ago and I have had various chats with the guys who run it with regards to how it can be shared with the wider community. It is now ready so feel free to take advantage. Having proof-read the text they sent me I have to say that it does sound a very useful tool.
I have no commercial relationship with Journal.Investments.
PS. You can find a copy of ‘The Art of Execution’ in Wheelie’s Bookshop if you are desperate to spend money.
I am definitely courting controversy with this one.
We see it all the time – “You can’t time the Market” and “You must stay fully invested” and all this sort of stuff. To an extent I do agree with this but to be honest it is quite a limited extent and I would make the argument that it is far too simplistic and totally ignores stacks of considerations that we need to weigh up in the Real World. No doubt you will have spotted that I bleat on about ‘The Real World’ all the time and it is a big thing with me. I find that so much Financial Writing is academic and theoretical and so obviously not written by people who actually trade and invest in the Markets on a daily basis – if they did, they wouldn’t write this cr*p.
This is the second part of a Review on Mark’s Book ‘Excellent Investing’. If you have not read the first part yet, you can find it here:
In the first part I just went through the notes I had scribbled down whilst reading through the Book and I will carry on in that manner – so here goes:
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