👉 Life is beautiful … Make it count… Weekend good reads …
(1) ❓How Do successful people COMPOUND TIME
👉 Some Common attributes of the likes of Warren Buffet ,Albert Einstein , Ben Franklin , Steve jobs , Oprah …. and many more …. on how they expand their time despite the “busy” ness … of life
(2) 🏞They say a picture is worth a thousand words but in investing it is worth so much more.
📌Having a few extreme charts on your wall can be a helpful reminder that there is no such thing as “can’t,” “won’t,” or “has to” in markets.
👉And that’s why listening to the endless prophesies of gurus and pundits can be useless
❓They don’t know anything more about the future than you or I, which is to say they don’t know anything at all.
👌🏼 A wonderful read …..Put these Charts on your Wall
👉Weekend good fabulous short video …
👉 DELAYED GRATIFICATION , or deferred gratification, is the ability to resist the temptation for an immediate reward and wait for a later reward.
👉40 Years of Stanford Research Found That People With This One Quality Are More Likely to Succeed
👌🏼The following popular short video experiment of MARSHMALLOW TEST test has over 5M+ views ….
❓What were the results of the experiment The researchers followed each child for more than 40 years and over and over again, the group who waited patiently for the second marshmallow succeed in whatever capacity they were measuring.
⭐⭐In other words, this series of experiments proved that the ability to delay gratification was critical for success in life.
👉 Show it to children .. they would love this video
👌🏼Some excellent pointers towards a better thought process and attitude – #investwise
Never Judge a Decision by Its Outcome: Outcome Bias
A quick hypothesis: Say one million monkeys speculate on the stock market. They buy and sell stocks like crazy and, of course, completely at random. What happens? After one week, about half of the monkeys will have made a profit and the other half a loss. The ones that made a profit can stay; the ones that made a loss you send home. In the second week, one half of the monkeys will still be riding high, while the other half will have made a loss and are sent home.
And so on.
After ten weeks, about one thousand monkeys will be left—those who have always invested their money well. After twenty weeks, just one monkey will remain—this one always, without fail, chose the right stocks and is now a billionaire.
Let’s call him the success monkey.
How does the media react?
It will pounce on this animal to understand its “success principles.” And they will find some: Perhaps the monkey eats more bananas than the others. Perhaps he sits in another corner of the cage. Or maybe he swings headlong through the branches, or he takes long, reflective pauses while grooming. He must have some recipe for success, right?
How else could he perform so brilliantly? Spot-on for two years—and that from a simple monkey? Impossible!
The monkey story illustrates the outcome bias: We tend to evaluate decisions based on the result rather than on the decision process. This fallacy is also known as the “historian error.” (more…)