It is no exaggeration to say that this is the book that sets the foundation of my approach when it comes to investment/financial decisions.
Literature type of writing is never my thing, perhaps it is also due to the fact that I am not a native speaker. I am always drawn to English writing that is simple and direct, that shouts out the message without guessing. Mark’s book does exactly that. It is such a pleasant read with lots of wisdom. Although it is relatively brief, I have to stop every a few pages to pause and let it sink in. Here, I want to share two of my most important learnings from the book.
Be extremely open and keep the mental prejudices in check.
Our immediate environment shapes who we are, especially the early environment when we were very young. As most people don’t go through radical environmental changes throughout their lives, it is very easy for them to settle, unconsciously, on the immediate truth that they can see. As for people who do travel extensively and have the luxury to choose from different realities, they still very often fall back to the default setting. Changes are hard work, and often uncomfortable.
But here is the trick, the default setting is rarely ideal. The way I think of life now, thanks to this book, it is a game that for you to experiment and try all variables to get to the optimal setting. The optimal settings are not constant. It is dynamic and changes/adjustments are required from time to time.
Whatever circumstance you are in right now, remember, it is not set in stone. There are endless possibilities out there, whether you can see it or not.
Be detached to your emotions, especially the bad ones.
Detachment is anti-human. Mankind come to this world to feel and to experience. Yet to be good at investment, you have to develop the ability that allows you to separate emotions from investment judgements. One of my key learnings from reading this book is that, I am now able to manage my mental energy better than before. When strong emotions arise, good or bad, I have now developed the ability to step back and look at it objectively, then decide to charge energy into it or not. If it is a personal matter, I will normally allow mental energy to augment the positive feelings. But if it is a business setting, I will tell myself detach from both good and bad. Showing emotions, especially anger and anxiety, is a sign of weakness.
Be very selective on what emotional experience you spend your energy on. None of us have endless emotional energy. Use it wisely.
The author also touches upon other interesting topics such as self hypnosis. I will leave it to you to explore.
Dreamerella 