When hit with turbulent emotional and financial swings inherent in investing and other facets of life, simplicity is often the best medicine. To maintain your cool and keep your gains (both financial and personal) steady, keep these credos at close reference.
1. “Every man’s life ends the same way. It is only the details of how he lived and how he died that distinguish one man from another.”
Ernest Hemingway knew how to live life on the intense edge. Here, the pugnacious novelist reminds us that all that really matters in life is how you spend your days. When it comes to investing, like Hemingway, you need to be aggressive and intense, as really good results come to those who embrace the action.
2. “I was blessed with talent, but I worked like I had none.”
Kobe Bryant always worked harder than just about any of his competitors. Could Kobe have coasted on his innate talent and still done well? Probably. However, it was his attitude and work ethic that set him apart from the rest, and made him one of the greatest players of all time. Investors: If you adopt the work ethic and attitude of Kobe Bryant, you’ll likely to do very well.
3. If I took the time to bleed from
All the tiny little arrows shot my way,
I wouldn’t be here!
In-your-face punk rocker Henry Rollins (lyrics are from the Rollins Band’s “Shine”) is among my personal heroes, as his focused lyrics and penetrating ideas on cultivating strength of will are indeed inspirational. Here, Rollins reminds us that you’ll always be criticized by others for what you do, but so what. Do what you think is best and ignore the haters, as they’ll always shoot arrows your way.
4. From first to last
The peak is never passed
Something always fires the light
That gets in your eyes
RUSH, the quintessential progressive rock trio, has some of the most incredible lyrics (quoted here: “Marathon”) in all of rock music. In this tune, RUSH tells us that no matter how much you achieve, you can always challenge yourself and achieve more. This is a great lesson for investors, because no matter how well you do, you can always be a little smarter, a little savvier and a little more successful with your money.
5. “The quickest descent into unhappiness is to constantly compare yourself to others.”
This one comes from yours truly, Jim Woods. It has helped me keep my restless mind in check on countless occasions… and my Winning Portfolio proves it.
Whether you’re trading a monster stock, starting a new health path, or any big moves in between, look inward. It’s natural to gauge your success in life by others’ success (or lack thereof), but to be truly happy, you need to create your OWN path for success.
The only person you should compare yourself with is you. Strive to be better than you were the previous day. Achieve that, and happiness and success are bound to follow.
Do you have what it takes to trade with Jim Woods? Over the last five years, Woods has made 506 stock recommendations with a 75% success rate and a 17.5% average return per recommendation. Find Out More Right Now!