Through Different Lenses - A Wednesday Weekly - 007
In a 1985 interview, Warren Buffett was asked what he considered the most important quality for an investor. This was his response:
"It's the temperamental quality not an intellectual quality."
One of the most important and difficult aspects of investing is controlling your own emotions. It can single handily be the most powerful, at the same time destructive force in building wealth.
Our ability to think as humans is what sets us far apart from all other living species. However, we also have many common errors in our thinking referred to as "cognitive biases".
You can see the full list of these biases in an article I wrote here:
50 Cognitive Biases to Be Aware Of in Life & Investing
If you are more interested in the 1985 interview with a much younger Warren Buffet, I have included it at the end of the above linked article.
If the thinking gears are tired as a result of reading about too many cognitive biases, then take a break, grab a cup of something warm and settle into your easier than Wednesday reads.
Mindset story: A simple lesson of “The Law of the Garbage Truck” (Purpose Focus Commitment)
Halt and Catch Fire Should Be the Next TV Show You Binge (GQ)
Investing: The Rules of the Road (Farnam Street)
Universal Laws of the World (Morgan Housel)
The 1 piece of advice Michelle Obama has always given her daughters (Make It, CNBC)
Everything that Amazon has owned or invested in since 1998.
TitleMax
Disclosure: The information on this site should not be considered advice or solicitation to buy or sell any securities. Please see my Disclosure Page for a full disclaimer.