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You ever met the guy that didn’t sit around crying and making excuses why they can’t succeed? Part of the reason is 90% of people have this can not do attitude. The other part is usually the time. Throw in all the doubters and haters that bang the table saying you must cost average ETFs like zombies high on some religion i of the church of the acceptance of under to average performance and there you go.
Most people never try or never try for long enough it takes time to become skilled. I think almost anybody could do it if they devoted themselves. 90% of the people have already brainwashed themselves into thinking it can’t be done.
Well said! Be a victor, not a victim!! Too many people have the wrong mindset and spend their entire lives metally shooting themselves in the foot and placing blame at others. It's the hardest thing in the world to get someone to change their mentality. Believe me, I someone like myself can be a successful investor, thank anyone can do it, but they just won't.
Or, as one of my favorite quotes says:
"Whether you think you can or think you can't, you're right."
You ever met the guy that didn’t sit around crying and making excuses why they can’t succeed? Part of the reason is 90% of people have this can not do attitude. The other part is usually the time. Throw in all the doubters and haters that bang the table saying you must cost average ETFs like zombies high on some religion i of the church of the acceptance of under to average performance and there you go.
Most people never try or never try for long enough it takes time to become skilled. I think almost anybody could do it if they devoted themselves. 90% of the people have already brainwashed themselves into thinking it can’t be done.
Hmmm or it’s knowing enough to know what you don’t know. The dunning Kruger effect if you will. In other words, the higher competence people have at something, the more they know there is to be aware of and they realize the limitations of a what they actually know.
Whereas people who know less….are often brash because they don’t even have the skill or awareness to know what they could be missing. Yet, they simultaneously rate their own skill and performance higher than it is.
Which is why there’s usually a suite of advisors in different disciplines to cover due diligence and you need other opinions and biases.
I’ve devoted more time and effort to understanding the realm of finance than 99%+ of people on this planet. I’ll let you figure out what camp you fall into on the dunning Kruger scale.
Last edited by Thatsright19; 06-08-2021 at 09:17 AM..
Say you work 50 hours a week. You sleep 7 hours a day. Then you have your daily maintenance of eating, showering, travel time, workout, mundane chores. You maybe have a couple hours left each day. Even spending 30 minutes is a tremendous drain on your actual productive time for leisure or other pursuits.
Now, one could try to invest the time and effort into investing actively like that. All to come up with a plan that was most likely already done far better by people far smarter. Do solo investors doing their research make out better? Sure. An exceptionally small amount. But at what actual cost? And are they statistically significantly better?
My time is also valuable in a professional sense. I’d rather specialize in my narrow domain and farm out other activities to others who are specialized in that area.
It all depends on the person and what their goals and interests are. I personally am fascinated by trading and the stock market. All professional traders have a passion and genuine interest in it. I'd say this is a requirement otherwise it would be very difficult to learn and get good at it. My point is simply almost anyone can become good at trading if they have a genuine passion, interest and are willing to put in the work. It can eventually become your full-time job. It's sort of like saying almost anyone can become a youtuber. I personally hate being in front of a camera and would find it stressful coming up with new ideas, etc, but if I had a passion for it, I could learn how to edit a video, create content day after day and probably make decent side money over-time and eventually do it as a full-time job, but that's not for me. If you can find something you truly enjoy and it makes money for you, it's a win/win, very few people in life have that.
Hmmm or it’s knowing enough to know what you don’t know. The dunning Kruger effect if you will. In other words, the higher competence people have at something, the more they know there is to be aware of and they realize the limitations of a what they actually know.
Whereas people who know less….are often brash because they don’t even have the skill or awareness to know what they could be missing. Yet, they simultaneously rate their own skill and performance higher than it is.
Which is why there’s usually a suite of advisors in different disciplines to cover due diligence and you need other opinions and biases.
I’ve devoted more time and effort to understanding the realm of finance than 99%+ of people on this planet. I’ll let you figure out what camp you fall into on the dunning Kruger scale.
My numbers speak for themselves in my account. I have a passion for it like BMW describes in his post. I am beginning to show an established track record on this site and have already done so under my own name on Quora.
So take your passive aggressive insults involving scales and take a hike.
It all depends on the person and what their goals and interests are. I personally am fascinated by trading and the stock market. All professional traders have a passion and genuine interest in it. I'd say this is a requirement otherwise it would be very difficult to learn and get good at it. My point is simply almost anyone can become good at trading if they have a genuine passion, interest and are willing to put in the work. It can eventually become your full-time job. It's sort of like saying almost anyone can become a youtuber. I personally hate being in front of a camera and would find it stressful coming up with new ideas, etc, but if I had a passion for it, I could learn how to edit a video, create content day after day and probably make decent side money over-time and eventually do it as a full-time job, but that's not for me. If you can find something you truly enjoy and it makes money for you, it's a win/win, very few people in life have that.
And that’s fine. But realize there’s a bias in that. And bias can result in mistakes. If you actually account for all of the relevant controls, and think you personally can add statistically significant amount of value compared to other plans created, more power to you.
I spend 50+ hours working in finance, so I’d rather farm investing out to professionals in that area who have created excellent plans to follow that are best practice.
My numbers speak for themselves in my account. I have a passion for it like BMW describes in his post. I am beginning to show an established track record on this site and have already done so under my own name on Quora.
So take your passive aggressive insults involving scales and take a hike.
I guess these mystery numbers didn’t speak for themselves since you brought it up. And if you’re actually so good at fund management at such an elite level of value creation, I’m sure you’re raking in consulting fees or will be soon enough since if you’re actually doing it, you’d be one of the most financial valuable people on this earth.
I’m not sure how long your established track record is running, but the last several years have been easy sailing. Who isn’t making money? I think I’ve shown 25 to 35% gains each year for 3 or 4 years running. We’ll see how good you make decisions when the sand shifts and if you continue to get numbers that allegedly speak for themselves.
Also, I was just matching your passive aggressive insult, which implied I was whining and too lazy to learn.
Last edited by Thatsright19; 06-08-2021 at 09:45 AM..
And that’s fine. But realize there’s a bias in that. And bias can result in mistakes. If you actually account for all of the relevant controls, and think you personally can add statistically significant amount of value compared to other plans created, more power to you.
I spend 50+ hours working in finance, so I’d rather farm investing out to professionals in that area who have created excellent plans to follow that are best practice.
At the end of the day, do whatever works best for you. If you are making a comfortable living, growing your net worth and enjoying life that's all that's important. There is more than one way to do this is my point.
It's not an either / or decision. You can be active in choosing mutual funds for a sector of the total market, gleaning both the rewards of professional managers and some reward of being involved and not just parking in the total market autopilot funds / etfs. And you can research as much or as little as you want. If you are smart and know what you know and what you don't know, you deviate from the total market to the degree that you have researched.
That's what's great about investing in equity markets, it's so sliceable and customizable. Real estate and other investments are not, they are illiquid and come in big chunks. The other great thing is that people disagree. I think if everyone had the same mentality, markets wouldn't function as good as they do, there'd be more Japan style boom busts.
My interest in the next twenty years is how the autopilot approach pans out, just because it has worked and the rationale was there in the past does not guarantee it to be a consistent gainer in the future, especially with new things like population decline entering the picture. Case in point is looking at other nations markets, a general market fund for other countries like Japan actually would have sucked over the long run. The US exceptionalism is not guaranteed.
It's not an either / or decision. You can be active in choosing mutual funds for a sector of the total market, gleaning both the rewards of professional managers and some reward of being involved and not just parking in the total market autopilot funds / etfs. And you can research as much or as little as you want. If you are smart and know what you know and what you don't know, you deviate from the total market to the degree that you have researched.
That's what's great about investing in equity markets, it's so sliceable and customizable. Real estate and other investments are not, they are illiquid and come in big chunks. The other great thing is that people disagree. I think if everyone had the same mentality, markets wouldn't function as good as they do, there'd be more Japan style boom busts.
My interest in the next twenty years is how the autopilot approach pans out, just because it has worked and the rationale was there in the past does not guarantee it to be a consistent gainer in the future, especially with new things like population decline entering the picture. Case in point is looking at other nations markets, a general market fund for other countries like Japan actually would have sucked over the long run. The US exceptionalism is not guaranteed.
I agree wholeheartedly with this post. In this world even a year is a losing time with how fast things have been changing. I think a few people who marry their holdings could be in for a bad surprise. I liked something BMW said about long term holding being risky, or something to that affect. Holding something likeSPY for example as people say it’s the one for decades and hoping it all works out seems to be a big risk to me.
I guess it limits singlestock risk but if it all blows up you aren’t diversified using this.The smartest people tend to tell you there is more than one way and give encouragement. The small minded tend to tell you it can’t work they know more than 99% of anybody out there and likely underperform because they consider that normal.
If I retire very early the year would theoretically be something like 2053. I think it’s crazy to blindly hold based upon that and assume things will continue like they always did. Interesting times.
It's not an either / or decision. You can be active in choosing mutual funds for a sector of the total market, gleaning both the rewards of professional managers and some reward of being involved and not just parking in the total market autopilot funds / etfs. And you can research as much or as little as you want. If you are smart and know what you know and what you don't know, you deviate from the total market to the degree that you have researched.
That's what's great about investing in equity markets, it's so sliceable and customizable. Real estate and other investments are not, they are illiquid and come in big chunks. The other great thing is that people disagree. I think if everyone had the same mentality, markets wouldn't function as good as they do, there'd be more Japan style boom busts.
My interest in the next twenty years is how the autopilot approach pans out, just because it has worked and the rationale was there in the past does not guarantee it to be a consistent gainer in the future, especially with new things like population decline entering the picture. Case in point is looking at other nations markets, a general market fund for other countries like Japan actually would have sucked over the long run. The US exceptionalism is not guaranteed.
True, it’s not. And I know I’m not going to change anyone’s mind. It’s like the question what wins championships offense or defense? Skill positions or grinders? Build Young or build with veterans? The answer depends on who the current champion is~
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