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investor
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Joined: 06/Sep/2006
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Posts: 1745
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   Posted: 23/Mar/2007 at 1:58pm |
I also came across my first info about TED on RDs chat, when posted some query referring to TED.
Originally posted by omshivaya
More I think of the first day I checked into TED(thru a link on RD ji's chat actually), the more I feel it was much more than a co-incidence. Maybe the story is same with others or maybe not. |
Edited by investor - 23/Mar/2007 at 1:58pm
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The market is a place where people with money meet people with experience.
The people with experience get the money while people with money get experience!
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omshivaya
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Posted: 23/Mar/2007 at 2:08pm |
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Yups I knew investor ji.
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The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it
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deepinsight
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Joined: 18/Sep/2006
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Posted: 23/Mar/2007 at 3:17pm |
Originally said by Basantji:
We need to be in the circle of good smart people who can combine skill with emotion and thankfully I have developed a habit of disassociating myself from someone whom I think does not possess these attributes.
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Basantji:
Thanks for sharing such a clear lesson as these scenarios will surely repeat in our investment lives. Thanks also for bringing sound minded people together so that we can help each other. As you know investment in general, is a lonely endeavour - and a sound counsel can make a huge difference.
I learnt that its difficult to keep a cool head, primarilly emotionally, when the world around seems like its falling apart (as was the case in May-June - I was close to 50% down at the extreme and with some good luck -up substantially for the year).
My actions were not too damaging (to myself) in fact it taught me to sharpen my concentration (in companies with high conviction) and sold all companies where I had less conviction about.
The lesson here is that finally all of us are also competing against our own weaknesses. A bad sell decision coming out of unwarranted fear could be seriously damaging to our wealth building efforts. Organizing our thoughts with clear guidelines would save us in our decision making in extreme scenarios.
One question I would like to ask the group is - when should one be willing to step out of the market? (even Mr. Buffett once dissolved his partnership once- think it was in the 60's)
Thanks,
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"Investing is simple, but not easy." - Warren Buffet
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basant
Admin Group
Joined: 01/Jan/2006
Location: India
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Posted: 23/Mar/2007 at 6:51pm |
It was difficult to give this forum a direction in the early days. Most of the people wanted a get rich quick kind of a service and it was tempting to run that short term calls section side by side (look at charts for breakouts etc) just to gain popularity but then I realised these people would be with the forum only as long as they make money and no one would have made money in that kind of an approach neither I since it was free and neither the trader.
The present approach is a trifle slow but over a period of 2-3 years we can have a self help group who would not need any research report/fund manager etc to help decide what to do.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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Vivek Sukhani
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Posted: 23/Mar/2007 at 9:10pm |
Well......why to wait for 2-3 years?????
I fear that some analyst may join by that time and start putting their calls...
regards,
vivek
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BubbleVision
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Joined: 05/Aug/2006
Location: India
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Posted: 23/Mar/2007 at 2:06am |
BasantJi....There has been very very good Discussion today on this thread. Excellent words of wisdom!
For RD and his fan club, I dont think that May was such a bad time. If I rembember correctly, he correctly anticipated a fall. However their problems began in July, when the markets turned and RD and his Followers remained bearish, surprised by the new emerging trend!!!
I must confess that I was very bearish in May-June and I had clearly thought that the Bull market was over. I was also short (Entered on 23-May).
However when the markets Turned...I was reminded of May-2004 when a similar thing happened and as they say rest is History!
And when it comes to fear...I just need to quote that again!!!
"Nothing in the financial markets should ever scare us. We are merely talking capital here, not life and limb! And the markets are supposed to rise and fall. "
Edited by BubbleVision - 23/Mar/2007 at 2:15am
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You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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kulman
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Joined: 02/Sep/2006
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Posted: 23/Mar/2007 at 9:24am |
As someone said: Knowledge is knowing the facts. Wisdom is knowing what to do with the facts you know.
Long live TED & TEDies!!
About fear, read this beautiful thought from Narendra Dutt (Vivekanand): "Strongness is Life, weakness (fear) is Death"
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Life can only be understood backwards—but it must be lived forwards
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vip1
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Joined: 09/Oct/2006
Location: India
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Posts: 492
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Posted: 24/Mar/2007 at 12:57pm |
We need to be in the circle of good smart people who can combine skill with emotion and thankfully I have developed a habit of disassociating myself from someone whom I think does not possess these attributes.
True Basant, also Guts and positive temperament and a ability not to get swayed by Crowd Behavior. Like a true Arjuna just Focus on the target.
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