In mid-2021 I started work on my podcast. To test the market, I kicked off with an initial series of five episodes. I was surprised at how much I enjoyed doing them and so I continued. The reason I enjoy the process is that I am learning a lot (as is the audience, I hope). I have been engaged in the investing game for decades, but this was the first time I had sat down with real experts and discussed how they approached the stock market. And my wonderful guests really opened my eyes.
Every investor approaches the market in a different way, but there are of course many commonalities. It’s incredibly helpful to listen to great investors. You cannot be a successful investor until you have developed a philosophy which suits you – everyone has their own interests, aptitudes and risk tolerances. Generally, this is a process developed over several years of making mistakes and losing money – you need to learn what makes you lose sleep, and what risks you find manageable, but also how best to approach the stock market puzzle. Learning from the greats is a good way of developing your own philosophy.
A common theme from my guests is an inherent dissatisfaction with performance. Wikipedia comments that the great Japanese painter, Hokusai, on his deathbed said: “If only heaven will give me just another 10 years . . . Just another five more years, then I could become a real painter.”