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basant
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   Posted: 08/Jan/2007 at 10:49am |
Pearls of wisdom strewn all across the well I suffer from a closed myopic view and do try to broaden that each time I look at a new stock but unfortunately I am still in the process of learning. WHile investing I cannot see beyond two or three sectors now Buffet calls it circle of competence and I say this opportunity might never come again so bet on it with full strength. .An open mind reduces the chance to get in love with one stock. This is quite unlike what a married person does but in investing an open mind (looking at new ideas - greener patures always help) not so much elsewhere
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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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omshivaya
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Posted: 08/Jan/2007 at 11:13am |
Yes sir, I know what you mean. An open-mind has to be balance with a closed-mind. We have to be close-minded enough to stick with our stocks for the long-term(after having researched it thoroughly) BUT also be open-minded enough to know that there could be another stock outside our well, that maybe a good if not better candidate for our long-term wealth creation. The idea is to do a thorough research on anything outside the well and then get it inside the well. The mind should not be totally open-minded but it should be open-minded enough to research a stock outside the well thoroughly. If it doesnt fall inside our circle of comptence, then it may fall into someone others' and we can take their detailed research and view on the stock. That is the greatness of having a forum. Many people with many circles of competence.
Some stock or the other may fall into someone's circle or another's. The idea is NOT to blindly believe a stock idea, but to ask the person who follows the "stock outside our well", to provide his detailed view on it and then follow it up with questions and research.
I also believe that too much of an open-mind leads to scattering of energies, like for example someone jumping from Nucleus to then Educomp and then something else...maybe FT.
Statutory Warning: Too much jumping could be injurious to your wealth
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Ah!! Almost forgot...
Edited by omshivaya - 08/Jan/2007 at 11:19am
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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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BubbleVision
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Posted: 08/Jan/2007 at 11:20am |
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Om - your last two posts on this thread are Excellent!
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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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omshivaya
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Posted: 08/Jan/2007 at 11:32am |
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Thank you Bubble ji. It is the wisdom that I have gained thru all you forum members' knowledge, that is writing all these and I am just the messenger. So, thanks to you all NOT me.
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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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basant
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Posted: 09/Jan/2007 at 12:08pm |
The idea is to do a thorough research on anything outside the well and then get it inside the well
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Very well said.It is strange how two lines carry so much message (wisdom).
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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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omshivaya
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Posted: 09/Jan/2007 at 12:13pm |
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Yes, the well should be made out of springs and not bricks. That way it is elastic and flexible to expand and contract as required.
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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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investor
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Posted: 09/Jan/2007 at 1:33pm |
Missed this discussion today morning, so just need a small clarification... Was this a generic statement on investing fundas or was it implying specifically to get into Everest Kanto? 
Originally posted by basant
and I say this opportunity might never come again so bet on it with full strength. . |
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omshivaya
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Posted: 09/Jan/2007 at 1:39pm |
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I would think generic investor ji. However, I'll let Basant ji reply as you asked him.
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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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