It is a fact that the local market condition is very hard to predict since it is affected by both global and local factors. As an investor, it may not be possible to predict what is going to happen next, but there are certainly ways to learn from people who have succeeded in riding the waves of good and bad times throughout the years.
In the book ‘The Winning Investment Habits of Warren Buffett & George Soros’, Mark Tier listed out 23 winning habits, based on the habits of these two of the world’s richest and most successful investors. Summarized below, are four main key habits that you might want to adopt as the fundamentals to successful investing.
For example, engineers are much disciplined and are good at following rule-based systems. When they follow a rule-based back-tested system, this can help control emotional behavior. Emotions play a large part in financial markets.
Medical doctors are scientific and base their decisions on logic and evidence. Successful investors weigh the facts and a doctor’s thought process will give him an edge over those who make decisions based on emotions.