The equity and other markets across the globe are full of investors. Some are successful, some meandering along and others facing outright failure.
As investors (future investors) ourselves we look for successful role models in our chosen field of endeavor. Likewise, for an equity investor the role model would be Warren Buffet or Peter Lynch amongst other.
We wonder about their phenomenal success and wonder what makes them different from us. That they are successful while we at best are meandering along (sometimes up and sometimes down). We wonder about what skills they have, which may have given them this advantage over us.
Let me assure you from the onset that they too are regular people. They only chose to specialize in this field of endeavor.
Let's take a look at some of their qualities:
They are honest and hardworking. They do not shy away from walking the extra mile, even though there maybe no visible gain to them.
They are trustworthy to the point of being boring in today's glitzy world. They take their time making friends. And once friendship is made, it is a life long commitment on their part.
They are very particular about time and appointments. They do not like to keep people waiting for them. And on the other hand, do not like to waste time with people who do not keep their appointments or time. For them time is of the essence.
They are emotionally stable. They clearly demarcate between their work and personal life. When working they do not like to be disturbed (unless it is an emergency). And when they are with family and friends they do not think or brood on their work.
Further, they have a healthy control over their emotions. Greed and fear are not part of their thoughts. In fact, they see opportunity when whole markets are fearful or greedy. Sometimes, this makes them look like contrarians. For instance, while everyone is selling, they would be stock picking and buying. Or on the other hand, when everyone is buying aggressively they would be selling quietly. Either ways they always maintain a healthy margin of safety in their transactions.
They have a relatively deeper understanding of the work they do. And have a qualitative and quantitative system in place. Which they have tested and modified over the years. These modifications are carried out to keep their system abreast with the present. After all we are dealing with the future here.
Also they are open minded and willing to experiment with new concepts and ideas.
When they make a mistake, it is quickly acknowledged and corrective action initiated. As for them to brood over past mistakes, in itself would be a grave mistake. They spend the same time in improving their investment system, to reduce the probability of the mistake occurring again.
They are healthy and conscious of their diet. They do regular daily exercises and go out for morning jogs or walks. Their routine is a part of their lives. If they make a change, it is only to improve the quality of their day.
There is a lot more that can be written on this subject. However, at present I feel that the reader has enough to work on.