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THEY DO NOT speculate
Rather than following the trends, successful investors follow a time-proven strategy that they repeat again and again, recognising that you can’ t become an expert by doing one hundred things at once. Instead, they do one thing a hundred times till they become proficient and can produce repeatable results – that’ s how they know they’ ve become an expert. It may make their investing boring, but the results make their lives exciting.
THEY DO NOT sit and wait for good deals. They create deals
Successful investors are very quick and pro-active learners. They learn from their mistakes and also constantly keep themselves familiarised with the latest updates from the financial markets. They invest a lot of time on their money which goes in line with a very famous quote from Warren Buffet –“ The rich invest in time, the poor invest in money”. Some successful investors are also avid readers of financial books and magazines.
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THEY DO NOT ignore problems
Successful people confront problems as soon as possible. Just like most of us, they’ re tempted to neglect things that are difficult to deal with, but tackle them anyway, because putting off a problem only turns it into a bigger one.
THE DO NOT“ hunt” alone
Successful investors know that if they’ re the smartest person on their team, then they’ re in trouble. So they surround themselves with other like-minded people, are prepared to pay good advisers, and have mentors who inspire and motivate them and keep them accountable.
Investment is a mind game. To be a smart investor, you need a smart mind.
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