True, not every investor is a good investor. There are some who just make up the numbers and the truth is like in every sector, those who make up the numbers are more than those who are actually good investors. Also like in every other sphere of life, talent is not usually enough so a good investor or one who aspires to be has to sacrifice time and learn to climb up the ladder of success.
Here are some qualities of a good investor:
They are passionate about investing
Passion beats talent. Any other day this could be a topic for argument but right here, this is the truth, in black and white. Good, I mean very good investors are often the most successful ones and they see investment as a hobby; a game they love to play. The profits that come after are only a bonus, in the sense that the sense of accomplishment supersedes the thud of money registered in their accounts. They enjoy the whole scenario like it is a game because to them it is; like Roger Federer on a lawn tennis court. It is a beautiful game.
They are learners, not just learners – proactive learners
Good investors are voracious readers and learners. They learn everything about what they do and things far outside their scope then bring everything into play when they are on the field. Like I said before, investment is a game to a good investor. They do their best to keep the euphoria of their past successes at bay even after celebrating so they stay hungry. They know the landscape could change at anytime and they must never be caught napping.
They are patient
Great investors are very patient. Before investing they make calculations and do everything to stick to it unperturbed by the unfolding events. Even when they make calculations for short term yields, they are still ever ready to adapt and re-strategize when things look like they would work out as expected.
They always invest in an exit strategy
They don’t put all their eggs in one basket. They know no matter how experienced you are the market could play a fast one on you so they always make plans in case things go south. In other words, successful investors prepare and calculate for the best in an investment and at the same time prepare for a scenario where things don’t work out as planned.
They are masters of their emotions
No matter what anyone says, almost every human activity is driven by sentiments. So also, the state of the market (surge or decline) is caused by two human emotions; fear and greed. Normal investors are ruled by these emotions but experienced and successful investors know how to control their emotions and even manipulate those of others. They become so good at controlling their emotions that they don’t allow anything influence their choice of investment or methods of investing.
They have laser focus
Another vital quality of a successful investor is they have laser focus. They are usually focused on one investment at a time and they take one step at a time. They never give room for distractions so they are never carried away by anything. They mostly stick to one choice of investments that really interests them so they don’t have their concentration scattered all over the place. Instead they streamline their efforts and focus.
They flow with the trend
One of their greatest strengths is the speed at which they handle the speed of change. They are like chameleons as they move with the tide of the day without batting an eye or stopping to catch their breath. They are conditioned for change and using that change in anyway it comes to better their business endeavours. They don’t complain or rant about things not being the same; they know there will always be change. So they do everything to adapt effortlessly to each and every challenge posed to them by change.
At PitchOffice, we want the best for you so be the best!
Image credit: bce.ca
275 total views, 1 today