MALAYSIA PACIFIC CORP BHD
KLSE (MYR): MPCORP (6548)
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tenlot
541 posts
Posted by tenlot > 2014-10-01 17:25 | Report Abuse
Invest unemotionally.
It’s human nature to be emotional, and life is richer for it. But it reduces investment returns. Many people make systematic errors in their investment thinking, due to their emotions, egos and innate cognitive biases. They suffer from confirmation bias, tending to seek out and find evidence to support their position rather than evidence that might refute it. They think about risk more when things are already going badly and less when prices are already up. They resist admitting mistakes and hold their losers too long. They think about how they’ll spend the money they’re expecting to make from investing, and this can cloud their judgment and encourage excessive risk-taking. They’re overly optimistic and overly confident about their investment abilities, which is dangerous. By contrast, Buffett is a paragon of rationality. His investment decisions are insulated from such emotionality. He has said he’d never give up a good night’s sleep for a chance at a slightly better return. He thinks long term and so he doesn’t panic when the market falls; instead, he sees drops as buying opportunities. To invest better, become a student of human psychology. Learn how emotions lead to cognitive errors, so that you can avoid those errors and benefit when others make them.
http://www.businessdictionary.com/article/896/investing-lessons-of-warren-buffett/