Manage episode 211123563 series 2135788
We cover the fundamental 5 steps to become an investor—based on Mikael’s personal guidelines.
Here’s a summary of the steps:
1 Psychology is more important than maths in investing
2 Read books and insightful articles about investing, not testosterone dripping online stock forums
3 Find a strategy that suits you. Refine it in company with likeminded truth-seekers
4 Use real money; it’s the only way to truly stress test your emotions and your strategy-psychology fit
5 Create a feedback loop of continuous improvement, your work as an investor is never done
Bonus tip: it’s not easy, anybody who says it is doesn’t know what they are talking about (or are actively trying to fool you). Anybody who has simple one-dimensional solutions to the ‘problem’ of investing is either a narrow minded sheep destined for slaughter, or a snake oil salesman out to trick you.
Follow-up: Check out Mikael’s blog post for a list of the books.
For serious students of investing: Check out TAOs (The Art of Sprezzatura) for Mikael’s investing framework.
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