Frederick Herzberg's research published(1968) revealed that achievement and recognition for achievement are the primary internal motivators.
A new study found out that even small wins or progress in meaningful work can greatly impact emotions, motivation, and performance
Analyzing anonymous diary entries from hundreds of people and thousands of workdays, the study concluded that making progress in meaningful work, even through small wins, can significantly impact emotions, motivation, and performance.
In trading an investing, create 2 systems.
The results and the process.
The results:
The growth month by month, year by year and decade by decade will reflect your growth over time which is part of the small wins within the overall journey.
This growth, over time will push you to trust yourself, give you a loop of motivation and overall will make the journey and your life more enjoyable.
Despite the long term positive expectancy both in growth and emotional satisfaction, it is not what will get you there.
I want you to truly dissect the process from the results.
The overall result results from your daily process.
The process is what allows for the overall feedback loop to be enjoyable.
It is extremely important to have a quantifiable, objective and easy growth process to allow you to push through the learning curve your path entails.
Within the process I want you build clear checklist type items to materialize the growth.
For example:
•Prep each morning with checking boxes, which form an opp score
•Look through the dilution and if it fits your minimum criteria(for small caps)
•Formulate execution plan
3. Review the execution after the market close and once again use buckets:
Copy chart to review
Followed plan?
Executional performance?
Emotional control?
What you did well
What you did wrong
How can you fix mistakes
New Strategy findings
Formulate an overall process, both longer term and day by day to quantify and feel the progress.
It is your job to create this structure, it will keep you grounded, objective and will allow you to harvest new motivation and energy.
Make your life a continuous growth process.
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How many of you have seen a news piece hit the feed and felt so incredibly sure about a stock direction based on it just to it do exactly the opposite?
Most of us have.
Here is an excerpt from the book Essentialism.
The point of the story is often forgotten through the overwhelming dramatically written news piece 📰
News can be one of the strongest tools you can use to your advantage if you know where to look.
I want you to try this exercise:
1. Find the loser and winner
Most financial hit pieces have a distinct winner and loser. Pinpoint the two to unveil a potential agenda
"In the short term, the market is a voting machine, but in the long term, it is a weighing machine."
- Warren Buffett
"The idea of excessive stock market competition destroying the pricing mechanism has some validity, but it’s not a total disaster.… twitter.com/i/web/status/1…
The point I am making is that the companies with the safest earnings predictability are the ones with the highest moat or competitive advantage.
These will oscillate between over and undervalued around their Earnings per share trend.
$BAC remains an asset I gladly own, returning a 3%+ dividend which equates to 6 figures per year in dividends which I will gladly use to increase existing positions and further compound.
It allows me to diversify within a space that until now I could not justify owning.
$BAC really crystalizes what I am trying to share about my investing philosophy.
Buying companies with the biggest competitive advantage and best fundamentals at a discount when people hate or panic out of a space.