The stress-free environment of a train ride provides a wonderful opportunity for observation. Immediately upon boarding, almost all passengers are in a panic to get wired up. There is a lot of social pressure these days to be 'doing something.' One time while looking out the window in deep thought, someone actually asked me if there was something wrong. When I replied 'just thinking' they seemed puzzled.
The management of your money is one of the most important things in your life. It should not be taken for granted. It is not easy. Getting the most out of a portfolio of investments rquires not only a lot thinking, but the right kind of thinking. At Salute we believe there are three key attributes behind successful thinking.
Focused thinking. Contrary to popular belief, there is no such thing as multi-tasking. You can only do one thing 'well' at a time It's a bit like meditation. You are either fully engaged in the process or you are not. It's OK to block out time to just think. It's often best to do this core work first thing in the morning when the mind is fresh.
Personalized thinking. There are a couple of traps here. First, it is very easy to buy into 'groupthink' and just go with the flow. Second, it has become popular to 'outsource' thinking to some unknown entity. Large financial conglomerates are managing billions of dollars for thousands of people. Here we like to consider each investment, each portfolio, and each person to be special.
Critical thinking. After our best analysis and decisions have beenb made we still always try to bew actively open-minded. What are the 'knowns' and the unknowns'? Why do we believe something to be true? Is the current situation the same as the original one? We must remain flexible in being willing to admit mistakes and to make adjustments.
Comments