Don Campbell talked last night in Calgary about investing when things are down. He asked who bought stocks and real estate in 2008.
Proudly I put up my arm. And I realized how fast my net worth is recovering. I am again close to the old net worth peak and... the best is still to come.
Then Don told us he bought too and that this was not an easy thing to do with all the `chickenlittles` proclaiming around you that this time the world is surely coming to an end. He was doing in his pants.
I would like to tell you with me it was the same. It is not that you have to be a genius to win in investing. But you need a darn strong stomach or better a strong bladder. I think that is the difference between a successfull investor and someone that is not. You not only can reason out why the thing you buy is cheap, but you must also be able to handle the butterflies in your stomach and you may barely be able to control your bladder. Because any investor knows he/she makes mistakes. Maybe you overlooked something that was so obvious, anyone but you could see it. So, you invest and you do in your pants big time. My pants are not yet dry - but I am proud to have taken the plunge and I will likely enjoy the profits for years to come.
But I know I am not all knowing. I made too many mistakes not to admit that I don`t know it all. But I also know that if investing was so easy and that if you could invest succesfully with dry pants, everybody would be a millionaire. So... I am proud of my wet smelly pants, my badge of courage.... and of luck!
Proudly I put up my arm. And I realized how fast my net worth is recovering. I am again close to the old net worth peak and... the best is still to come.
Then Don told us he bought too and that this was not an easy thing to do with all the `chickenlittles` proclaiming around you that this time the world is surely coming to an end. He was doing in his pants.
I would like to tell you with me it was the same. It is not that you have to be a genius to win in investing. But you need a darn strong stomach or better a strong bladder. I think that is the difference between a successfull investor and someone that is not. You not only can reason out why the thing you buy is cheap, but you must also be able to handle the butterflies in your stomach and you may barely be able to control your bladder. Because any investor knows he/she makes mistakes. Maybe you overlooked something that was so obvious, anyone but you could see it. So, you invest and you do in your pants big time. My pants are not yet dry - but I am proud to have taken the plunge and I will likely enjoy the profits for years to come.
But I know I am not all knowing. I made too many mistakes not to admit that I don`t know it all. But I also know that if investing was so easy and that if you could invest succesfully with dry pants, everybody would be a millionaire. So... I am proud of my wet smelly pants, my badge of courage.... and of luck!
