What Does Warren Buffett Mean?
Warren Buffett's quote, "Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing," highlights an important aspect of successful investing. It's not about how smart you are, but rather your ability to control your emotions and make rational decisions.
Real Life Examples
Take for example, the story of day traders who buy and sell stocks in the hopes of making quick profits. These individuals often make impulsive decisions based on their emotions and end up losing money in the long-run. On the other hand, successful investors like Warren Buffett and Charlie Munger take a patient and rational approach to investing, focusing on the long-term and avoiding emotional decisions.
The Power of Emotional Control
Emotional control is essential to successful investing. It's important to have a well-thought-out plan, and stick to it, even when the market is volatile or stocks are taking a downturn. Avoiding impulsive decisions and staying patient is the key to achieving long-term success in investing.
So, whether you're just starting out on your investing journey or you're an experienced investor, remember that success in investing is not about your intelligence, but about your temperament and emotional control. By focusing on these key elements, you too can achieve financial success and build a brighter future for yourself and your loved ones.
'Success Money' 카테고리의 다른 글
| Invest in Quality, Not Price: Lessons from the Oracle of Omaha (0) | 2023.02.09 |
|---|---|
| Thinking Beyond Yourself: The Power of Warren Buffett's Philosophy (0) | 2023.02.08 |
| The Power of Patience in Investing (0) | 2023.02.06 |
| The Secret to Financial Freedom (0) | 2023.02.05 |
| The Power of Surrounding Yourself with Success (0) | 2023.02.04 |
