Money Mind and mindset (Re-visit)

Read older post? Revisit what I have posted in Sunday, 5 August 2007

Read? Money Mind and mindset

Read? Work for money? Forget it

Fisherman's Mind

I feel that who don't have strong belief in using compounding returns in the stock market to build up their wealth towards financial independence tend to love controls over the things they do. After a long period of time, if they don't have that strong feeling of control, they will tend to be uncomfortable.

Before you hit the Buy button in your broker's trading platform, you have absolute control over it; but once you have bought the stock, you have completely gave up that control to the market. The market will then decide the fate of your stock.

Similarly, like fishing!

Before you throw that fishing line into sea you have full control over it. But, once the fishing line is in the sea, you have absolutely lost control over it. The sea with its under-water current, tides, obstacles and fishes will decide your fishing fate. You may caught a fish or lose your bait or lose your sinker, and the worst thing to happen is that a big fish may come and break your fishing rod or line and make you feel like ...

May be it is a good idea that before you learn to invest in the stock market, take up fishing!

You will learn to build up your patience and realize that the sea and its fishes that has control but not you!