10 timeless investing principles, visualized:
1: Zoom out
2: Don't invest until you're ready.
Master your personal finances first.
3: In the beginning, your savings rate is all that matters.
Over time, your investment returns become all that matters.
Focus your attention accordingly.
4: What’s risky in the short-term is safe in the long-term.
What’s safe in the short-term is risky in the long-term.
5: Dollar cost averaging makes market timing irrelevant.
6: A business and its stock are 0% correlated in the short-term but 100% correlated in the long-term
7: Humans are born to be bad at investing.
Expect your emotions to play all kinds of tricks on you.
8: Handling volatility in bull markets is easy.
Handling volatility in bear markets is damn hard.
9: You can't know everything.
Define when you know enough to make a decision.
10: I love stock investing, but never lose sight of what actually matters
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Last one:
Stocks only provide predictable returns in spreadsheets.
Expect to be surprised (in both directions).
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