Avsnitt
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True wisdom lies not in overestimating our abilities, but in understanding our limitations and acting accordingly. I talk about the dangers of overconfidence in life and investing, in today's episode of #TheInnerGame #podcast.
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I don’t, normally, focus on short-term market movements or how investors should behave in the short term. However, I’ve been receiving a lot of questions from friends and readers about how to navigate this soaring bull market. And so I thought I will create this episode of #TheInnerGame #podcast to share my thoughts on what you can do in such euphoric times when nothing seems to be going wrong with the economy, the markets, and your portfolio.
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Saknas det avsnitt?
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This is a story from January 15, 2009. It’s not my story, but an inspiring one. US Airways Flight 1549 on its way from New York City’s LaGuardia Airport to Charlotte, North Carolina, struck a flock of birds shortly after take-off, losing all engine power. Unable to reach any airport for an emergency landing due to their low altitude, pilots Chesley ‘Sully’ Sullenberger and Jeffrey Skiles glided the plane in the Hudson River. All 155 people on board were rescued by nearby boats, with only a few serious injuries. This water landing of a powerless jetliner with no deaths became known as the Miracle on the Hudson. Well, I discuss this story and a related lesson in today's episode of #TheInnerGame #podcast.
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On a cold morning of 1931, in a small town in the US, a seven-year-old boy was playing with a young girl, when they were unexpectedly attacked by a stray dog. Tragically, the girl was bitten, contracted rabies, and succumbed to the illness. The boy, miraculously, emerged unharmed. Well, I discuss this story and a related lesson in today's episode of #TheInnerGame #podcast.
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What others advise me to do in life and investing is never in my control, and so I cannot change what they advise. But what advice I apply to my life and investing is in my control, and so I must ensure that I play just that part well. So, the problem is not the advisor or influencer peddling wrong financial advice. The problem is ‘I’ not understanding what is wrong for me and what is not. Yes, that is the problem. I discuss more on this in today's episode of #TheInnerGame #podcast.
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Imagine you’re at a crossroads, standing on the edge of a vast, uncharted territory. You have a map, but it’s blank, waiting for you to fill in the details. Now, picture having a few wise mentors who have walked similar paths, guiding you with their wisdom. That sounds comforting, right? Today, in #TheInnerGame #podcast, I dive into this very idea of choosing the right heroes, inspired by a principle that Warren Buffett articulated beautifully, when he said that ‘The best thing I did was to choose the right heroes.’ * * * USEFUL RESOURCES: 1. Twitter: https://x.com/safalniveshak 2. Podcasts - a. The Inner Game - https://www.safalniveshak.com/the-inner-game/ b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/ 3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/ 4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/ 5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/ 6. Book Recommendations - a. The Essays of Warren Buffett - https://amzn.to/3L2Kgcz b. Poor Charlie’s Almanack - https://amzn.to/3RIPwWk c. The Story of My Experiments With Truth - https://amzn.to/4cgCU1a d. The Complete Book of Yoga - https://amzn.to/45HirzW
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George Baker once said something profound that Thomas Phelps quoted in his book “100 to 1 in the Stock Market” – To make money in stocks you must have “the vision to see them, the courage to buy them, and the patience to hold them.” Of these, patience is the rarest and the hardest to master. But if you can cultivate this skill and practice it diligently, it pays off handsomely in the long run. I discuss this very idea in today's episode of #TheInnerGame #podcast.
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USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak
2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
6. What if You Only Invested at Market Peaks? https://awealthofcommonsense.com/2014/02/worlds-worst-market-timer/
7. Buy and Hold: Simple, NOT Easy - https://www.safalniveshak.com/buy-and-hold-simple-not-easy/
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A common question I receive from a lot of investors is about how many stocks to own. In this episode of #TheInnerGame #podcast, I try to offer some insights from what I have learned from some great investors, and also from my personal investing experience.
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In today's episode of #TheInnerGame #podcast, we explore the age-old question: "Is getting rich worth it?" We delve into the true value of financial wealth and its impact on happiness and fulfilment. Through stories and psychological insights, we examine the costs and sacrifices involved in the pursuit of riches. Don't forget to like, share, and subscribe for more insightful content.
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USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak
2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
6. Life 2.0: Is Getting Rich Worth It? - https://www.safalniveshak.com/life-2-0-is-getting-rich-worth-it/
7. What You Own, Owns You - https://interestuponinterest.com/2022/07/01/what-you-own-owns-you/
8. A fuck-you money attitude - https://signalvnoise.com/svn3/a-fuck-you-money-attitude/
9. The Psychology of Money - https://amzn.to/4binjge
10. The Happiness Curve: Why Life Gets Better After Midlife - https://amzn.to/3VWLr3D
11. What is Chasing You? https://microcapclub.com/what-is-chasing-you/
12. A Reminder to Focus on the Journey, Not the Destination - https://www.safalniveshak.com/journey-vs-destination/
13. History's Biggest Fraud - Sapiens - https://ethz.ch/content/dam/ethz/special-interest/usys/ites/ecosystem-management-dam/documents/EducationDOC/Readings_DOC/sapiens.pdf
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Most of the times, it's not external factors like market crashes, economic slowdown, wars and recessions that hurt us in investing, but our own mis-behaviour. Over the next few episodes of #TheInnerGame #podcast, I will explain how some of our own thoughts, actions and decisions, often driven by good intentions, can lead us down the path of wealth destruction.
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USEFUL RESOURCES:1. Twitter: https://x.com/safalniveshak
2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
6. SageOne's Investor Memo Aug 2017 - https://sageoneinvestments.com/2017/08/
7. Market Timing Is the Enemy of Investment Success - https://firstascentam.com/forum_articles/market-timing-is-the-enemy-of-investment-success/
8. Timing the market vs time in the market: Which is better? - https://economictimes.indiatimes.com/markets/stocks/news/timing-the-market-vs-time-in-the-market-which-is-better/articleshow/99456136.cms
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When we think about #stockmarket #investing, we often look at it like a game of picking winners. Just find the right stocks, and you’re set for wealth creation and financial freedom, right? Well, that’s only part of the story. I share the other, equally important, part in today's episode of #TheInnerGame #podcast.
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USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak
2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
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I was recently reading my notebook where I collect thoughts and ideas from some good things I hear or read about in books and other places, and came across a passage from Haruki Murakami’s book, “Kafka on the Shore.” It is one of my favourite passages from all the books I have read, and while I was reading it one more time, I thought I would turn my thoughts into this episode of The Inner Game podcast. This is one of those passages that has always shaken something deep within me, and this time was no different. This passage speaks to the storms we all face—those intense, unavoidable challenges that seem to come out of nowhere and leave us questioning everything.
USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
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I was at a friend’s place recently, and since we are in a bull market, and against my wish, we got down to talk about investing. As I had expected, most of the discussion was around what the markets have done in recent times, and where they are likely to go after the new government gets down to work. I tried to move the conversation towards long term investing, but was pulled back again and again by things that worry people in the short term. And that led me to think about creating this episode of #TheInnerGame #podcast, where I talk about something a bit unconventional but immensely important – the few things you should not care about as an investor.
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USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak
2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
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When we think about saving money, we usually consider the practical reasons. Like we save money to buy a house, to go on vacation, to ensure a comfortable retirement, or to have a cushion for emergencies. These are all excellent reasons, and they highlight the importance of taking care of our money and finances. But have we ever stopped to ask this question if there’s more to saving money than just the financial benefits? Let's talk about the deeper meaning of saving money in today’s episode of #TheInnerGame #podcast.
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USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak
2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
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Today, I dive into a profound topic inspired by a recent speech from the tennis legend Roger Federer. During his commencement speech at Dartmouth College in the US, which I will link in the show notes, Federer highlighted two essential virtues: discipline and patience. Now, these are not just abstract concepts; they’re talents that can shape our lives, our work, and our investments. Let’s explore how these principles, when deeply understood and applied, can transform us over a period of time.
USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak
2. Podcasts - a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
6. Roger Federer's speech at Dartmouth - https://youtu.be/pqWUuYTcG-o?feature=shared
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In today’s episode of #TheInnerGame #podcast, I share with you the idea of playing your own game and not the games other people want you to play. This concept is crucial in #life, #work, and #investing, and I’m excited to share how it can make a real difference for you.
USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
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Today I dive deep into a fundamental truth about our world, which is the inherent randomness of everything around us. Whether it’s in business, life, or investing, one thing is clear – nobody knows anything for certain. And given this backdrop, or I must say given this reality, it’s important to understand why we shouldn’t predict the future but instead, be prepared to handle any eventuality. #TheInnerGame #podcast.
USEFUL RESOURCES:
1. Twitter: https://x.com/safalniveshak2. Podcasts -
a. The Inner Game - https://www.safalniveshak.com/the-inner-game/
b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/
3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/
4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/
5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/
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I was reading a newspaper headline recently which called just a 1% decline in the stock market as a ‘bloodbath’ and how investors had to suffer through the pain of losing a small part of their wealth quickly. It got me thinking about how our perception of pain and loss, especially in investing, has changed over the years. And it reminded me of my own journey with understanding and embracing discomfort.
I talk about all that, and more, in this episode of #TheInnerGame #podcast.
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In the grand tapestry of human existence, one of our driving forces for a long period of time has been the pursuit of wealth. In fact, society often measures one’s success and worth by the size of their bank account, the lavishness of their possessions, or the opulence of their lifestyle.
However, after having followed and learned from the likes of Warren Buffett, Charlie Munger, and the old wise people, I have come to believe that the notion that being remembered solely for one’s wealth is a meaningful legacy is a hollow one. I have also come to believe that true fulfillment and lasting impact in life require a more profound and enduring purpose than the accumulation of riches.
Let's talk about all that, and more, in this episode of The Inner Game podcast.
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Why do we, as humans, have this innate tendency to dislike and hate? Why are we programmed to hit the ‘dislike’ button from birth? Is it just for YouTube comments, or is there more to it?
Let's discuss this in today's episode of The Munger Method, which is a series on Charlie Munger's talk 'The Psychology of Human Misjudgment', and a part of The Inner Game podcast.
- Visa fler