The hardest thing in life and investing is waiting. Some people just cannot wait and that is where the oppurtunity lies. The more volatile it gets the more better it is. The rule is not to let emotions rule you, rather opposite. What i mean by that is be greedy when others are fearful and fearful when others are greedy. There is a price at which it becomes a no brainer, at that price some buy a lot, some buy like its once in a lifetime oppurtunity.
The more you play that more chances of you loosing. There are layers of stupidity on on all of us(no one knows that more than me). The question to ask how do i remove this. Ideally some 80 or 90 old man comes into your life and tells about his process and tells you about his life, mistakes and behavioral patterns people follow in extreme times. You will not get 100 ideas in your life, you only need 1. In my view in investing and life the one who gets ahead is not an above average IQ guy but the one handles his emotions, has patience and wisdom.
If it is close don’t play. In terms of cricket(sorry to all american audience as this might sound greek but its similar to baseball) analogy, I dont have to swing my bat as no one is forcing me to swing. Look for a ball that is above waist full toss(no ball an illegal delivery) and then time the ball out of the park. Now remember that you can get run out on such a delivery. By that i mean if you are getting lazy,complacent or hubris.
Books am reading
Other people’s money By John Kay
