5 Winning Investment Habits
1.The master investor believes his first priority is always presevation of capital, which is the cornerstone of his investment strategy. The losing investor only investment aim is " to make a lot of money." As a result, often fails to keep it.
2.As a result of habit #1, the master investor is risk-averse whereas the losing investor thinks that big profits can only be made by taking big risks.
3.The master investor has developed his own investment philosophy, which is an expression of his personality, abilities, knowledge, tastes and objectives. As a result, no two highly successful investors have the same investment philosophy. For the losing investor has no investment philosophy or uses someone else's.
4.The master investor has developed and tested his own personal system for selecting, buying and selling investments. The losing investor has no system or has adopted someone else's without testing and adapting it to his own personality. When such a system doesn't work for him, he adopts another one which doesn't work for him either.
5.The master investor believes that diversification is for the birds. However, the losing investor lacks the confidence to take a huge position on any one investemt.
"The Winning Investment Habits of Warren Buffett & George Soros" By Mark Tier
