Recently, I have decided to be more selective of the type of investing events I attend, after participating in a recent summit which I found to be not worth the time and money. I am starting to find such events repetitive and simplistic, with a heavy dose of promoting one’s own resources in a strong marketing strategy. One of the reasons why I attended was to find out whether the speakers had any stock tips for the current year, something I believe most who went wanted as well. In retrospect, I realise that it is a very lazy form of thinking on my part, and makes me no different from those who go from one hot tip to another without doing my own due diligence. Nevertheless, events like these may still be beneficial for those who have just started out investing.
In the last two years, I have been reading the blogs and articles of many well-known investing bloggers, and have invested in the same stocks as them at certain times, only to cut my losses when the stock moved down heavily. It was only last year that I realised that what works for one may not work for another, as the temperament of each individual investor is different. As such, I embarked on my own journey at self discovery, and started to pick stocks on my own after doing my own research. I feel that it is time for me to step out of my comfort zone fully this year, and listen more to my own observation and judgement. I remain grateful to those who have aided me in my investing journey so far, as I believe that every article, book, or event attended played a part in my learning. I will still continue to seek out good learning opportunities, as it is a lifelong process, but I hope to refrain from the venomous habit of hunting for hot tips in the market.
“You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right—and that’s the only thing that makes you right. And if your facts and reasoning are right, you don’t have to worry about anybody else.” – Warren Buffet