Posts filed under “Psychology”

Amateurs versus Professionals

AMATEURS

Have tons of ideas, are excited about all of them and see none to fruition.

PROFESSIONALS

Have tons of ideas, pick one and do their best to make it happen.

AMATEURS

Think they can do everything.

PROFESSIONALS

Know it’s almost impossible to achieve one thing.

AMATEURS

Think they know everything.

PROFESSIONALS

Are always learning.

AMATEURS

Start with no preparation.

PROFESSIONALS

Do research, they want to know where the bodies are buried, what the landscape holds. Better to take all these factors into account before you start, because trying to adjust on the fly is so much more difficult, it wastes time and energy and it’s hard to put a fourth wheel on a car you designed with three.

AMATEURS

Don’t finish.

PROFESSIONALS

Are all about execution. Sure, they occasionally abandon a project when they see further effort is fruitless, but the mark of a pro is someone who begins and ends. If you notice someone can’t complete a task, run from them!

AMATEURS

Are worried about image.

PROFESSIONALS

Let their work do the talking.

AMATEURS

Demonstrate insecurity.

PROFESSIONALS

Are extremely confident.

AMATEURS

Can only see what’s in front of them.

PROFESSIONALS

Are all about the big picture.

AMATEURS

Hold those above them in contempt.

PROFESSIONALS

Hold no one in contempt, but they haven’t got much time for losers. If you’re an amateur trying to graduate to professional status and you have the good fortune to encounter a pro, DON’T WASTE THEIR TIME! Give just one or two compliments and ask your question. But most amateurs are so busy being sycophants the professional tunes out, or goes on at such length that the professional excuses himself.

AMATEURS

Have no idea what dues are.

PROFESSIONALS

Have paid their dues, and are still paying them.

AMATEURS

Believe in instant success.

PROFESSIONALS

Know anything worth accomplishing takes a long time, and what might look like overnight success is rarely such.

AMATEURS

Boast.

PROFESSIONALS

Never slap their own backs, and are oftentimes uncomfortable with others slapping their backs.

AMATEURS

Get nervous.

PROFESSIONALS

May be anxious, but they’ve performed the task so many times they let instinct take over, they go on their experience, nervousness never comes into the equation.

AMATEURS

Are looking for their one big break.

PROFESSIONALS

Know that life is about a series of breaks.

AMATEURS

Are afraid to fail.

PROFESSIONALS

Don’t like to fail, but when they do they pick themselves up, dust themselves off and get back in the game.

AMATEURS

Interrupt.

PROFESSIONALS

Listen.

AMATEURS

Demonstrate their bile, they get frustrated or angry and it’s easy to see.

PROFESSIONALS

Are cool, calm and collected. You may read about the crazy owner/operator/entrepreneur, but if they’re truly nuts, they don’t last, their board replaces them, and the truth is most are not that nuts, it just makes a better story in the press to portray them as such.

AMATEURS

Bristle.

PROFESSIONALS

Show empathy.

AMATEURS

Are always telling you how busy they are and how hard they’re working.

PROFESSIONALS

Show up and stay as long as it’s interesting and profitable, bitching gains them nothing, so they don’t.

AMATEURS

Believe what people say.

PROFESSIONALS

Believe what people do.

~~~


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Category: Psychology, Think Tank

Spec-Tech Crash Is a Good Thing

Today, I hope to explain how the crash of the speculative tech names is a positive. Last month, we noted that “High-Flying Tech Stocks Were Coming Back to Earth.” Some of the companies we reviewed then included Twitter Inc., LinkedIn Corp., Netflix Inc., Tesla Motors Inc., Priceline Group Inc., Google Inc. and Facebook Inc. Since…Read More

Category: Investing, Psychology, Technology, Valuation

U.S. Money Managers Are Cautiously Optimistic

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Category: Investing, Psychology, Sentiment

It’s a Tech Bubble! Unless You Care About Earnings and Valuations

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Category: Hedge Funds, Psychology, Short Selling, Valuation

Behavioral Investing/Economics Blogs?

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Category: Psychology, Weblogs

The Rich Buy Real Estate; The Poor Want Gold

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Category: Gold & Precious Metals, Investing, Psychology, Real Estate

The Cognitive Side of Hedge Fund Investing

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Category: Hedge Funds, Investing, Psychology

Chasing Returns Has a High Cost for Investors

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Category: Investing, Psychology, Think Tank

Why is 2014 Soft? Consider These Bear Market Excuses

Last week, we discussed why investors conflate various rationales when confronted with unknown stock market moves. As stated in “What’s Your Stock Market Story?,” people much prefer a narrative to any admission that market movements are often random. We know little, understand less and hate to admit it most of all. That column generated more…Read More

Category: Investing, Markets, Psychology

On Investing: Jonathan Clements and Jason Zweig

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Category: Investing, Psychology, Video