Stock Investing 101: Attitude Of
Gratitude
The Dynamic Wealth Report
November 24, 2010
by Justin Bennett, Editor
Thanksgiving is my favorite holiday.
I love getting together with family to share this special day. It’s a
great time to actually do what Thanksgiving is intended for… to show
gratitude for the good things in life. (Of course, stuffing my face full
of turkey is an added benefit.)
I’ll admit, sometimes my day-to-day routine gets a little hectic. I
often forget just how fortunate I am. It’s good to spend a day being
thankful.
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And we all have things to be thankful for…
We as Americans take for granted many things people in other countries
can only dream about. Things like freedom of speech, freedom of the
press, and freedom of assembly. (Something nearly 1.3 billion Chinese do
without everyday.)
I for one am very grateful for these basic rights. Living in America is
truly something to be thankful for.
Gratitude is also an important part of being a successful investor...
What am I talking about? Read on and you’ll find a few tips to raise
your investing game…
So just what is gratitude?
The dictionary definition is “the quality of being thankful, readiness
to show appreciation for and to return kindness.”
How does this apply to investing?
Gratitude is essential to successful investing…
The state of mind you’re in when you make investing decisions is very
important.
Imagine this scenario…
Two investors are looking at the same stock at an identical moment in
time. Neither investor is aware of the other and each has the same exact
information on the stock.
In other words, neither investor has a fundamental or technical
information advantage over the other.
The only thing different is their attitude…
The first investor is about to press the buy button but chickens out at
the last second.
His mind is swirling with doubt. He’s not sure the investment is going
to be a winner. He doesn’t want to lose his hard earned money like he’s
done so many times before.
Instead of buying he thinks, “I’d better not put my money into this one. I really can’t stand the thought of another losing trade.”
So the first investor misses out…
Meanwhile, at the same time, the second investor buys the same stock.
His feelings at that moment in time are simple. He doesn’t know whether
the investment will be a winner or a loser. All he knows is the
opportunity fits his description of a good investment… so he takes
advantage of it.
More importantly, he’s grateful for the opportunity. His gracious
attitude puts him in the correct mindset for successful investing.
The investment turns out to be a big winner for investor #2. He takes
his profits and searches for another opportunity. Meanwhile, investor #1
is still searching for another “perfect” opportunity.
Why is gratitude so important?
This may sound strange, but it’s very true…
The more gratitude you show, the more opportunities you’ll find. I’ve
noticed this works in both life and investing.
After all, if you don’t recognize the opportunities you’ve had and be
grateful for them, how will you recognize the next one?
I think this quote sums it up perfectly:
“The unthankful heart... discovers no mercies; but let the thankful
heart sweep through the day and, as the magnet finds the iron, so it
will find, in every hour, some heavenly blessings!” ~Henry Ward Beecher
You see, a little gratitude can go a long way… both in life and
investing.
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