Today we'll talk about one of the most important concepts in investing. This one applies not only to investing - but to being successful no matter what you do!
Yes, this is an important mindset shift for most investors. Statistically, people have more success with long-term investments. You always have to ask yourself the honest question of whether you're really that good of an investor to get involved in short-term investing.
What is your skill, what is your edge to be better then the market?
Thank you for sharing. I agree having a clear vision of where you are, knowing where you were and where you are heading are all critical components in the journey of investment.
I would like to learn from you about the system/layout that you use to maintain proper overview of your investments.
Do you use excel? Do you journal on investments?
This is an area that I know I need to improve in and would love to hear your thoughts.
Hi Sergio, quick update. This week's newsletter is all about keeping a good track of your investments. I'm happy to hear if this helped you! Cheers, Stefan!
That's a really good idea for next weeks newsletter! I think I will use this as the next topic.
To answer your question a little: Yes I use Excel (or Google Sheets, more a Google User) and have an overview for all asset classes and each position in it.
I normally do a quarterly update, go through everything and ask myself the question if I still want that positon in my portfolio or what the aim of it is.
I hope this helps a little. Feel free to let me know how you currently do that.
Thank you. I agree, we must shift our thinking away from short-term gain toward long-term investment!
True,but short term gains lure the new investors. You learn the long term approach often by repeatedly failing with the short term gains thinking
True. Got into investing through crypto - thought I'd get rich quick haha
hahaha most of us probably :D
An important but costly lesson. But worth it!
Yes, this is an important mindset shift for most investors. Statistically, people have more success with long-term investments. You always have to ask yourself the honest question of whether you're really that good of an investor to get involved in short-term investing.
What is your skill, what is your edge to be better then the market?
Great!
Thank you for sharing. I agree having a clear vision of where you are, knowing where you were and where you are heading are all critical components in the journey of investment.
I would like to learn from you about the system/layout that you use to maintain proper overview of your investments.
Do you use excel? Do you journal on investments?
This is an area that I know I need to improve in and would love to hear your thoughts.
Thank you Stefan.
Cheers!
- Sergio
Hi Sergio, quick update. This week's newsletter is all about keeping a good track of your investments. I'm happy to hear if this helped you! Cheers, Stefan!
Hi Sergio! Thanks a lot for the reply.
That's a really good idea for next weeks newsletter! I think I will use this as the next topic.
To answer your question a little: Yes I use Excel (or Google Sheets, more a Google User) and have an overview for all asset classes and each position in it.
I normally do a quarterly update, go through everything and ask myself the question if I still want that positon in my portfolio or what the aim of it is.
I hope this helps a little. Feel free to let me know how you currently do that.
Cheers
Stefan