Would people work in banking/finance industry more likely to success in their own investments than others?
Monday, April 27th, 2009 at
4:46 am
Because of their insight and knowledge of the business, investment options, and trends? Just curious. I would imagine ordinary folks may be able to be money savvy to a certain level over time but probably still no equal to the pros who breathe finance/accounting/banking work night and day.
cybe's made a very interesting point. I guess "ignorant" could be a "blessing" in the investment world LOL? Perhaps the more one knows, the more confidence, the more risk one may take, and the more money one may make – or lose?
Tagged with: accounting banking • business investment • confidence • finance • insight • investment options • investment world • money • risk
Filed under: Global Finance
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It's about like Gamblers who work in casino's. You would think they would do better, and they should, but they have the same down falls if not worse than others who usually lose there.
Being to close to a situation can cause you to lose important perspective on it. Objectivity and Knowledge are equally important, well if you have no knowledge nothing works, but saying you have some, objectivity is extremely important. People sell themselves all the time, then see where their logic was flawed later on.
You have to be like a Panther to make it without some other beast eating your lunch or just killing your whole investment. You watch, check for predators, know the terrain, check for predators again, understand the movements of the prey intricately, and when, and NOT until everything lines up, you jump, pounce, and run away with the kill to eat it WAY UP IN A TREE where it's safe, totally away from the market … get what I mean?
Check things out carefully, watch for Sharks out there who give you bad info, check trends and what the prey (stock) is doing by checking fundamental business factors which affect it, trends in the market, market sector, company, and in government … when it all comes together get that stock! Watch it for a while, then get the hell out with a profit, and run away from the market for a while. Then do it all over again to make, or lose, more, lol.
If investment is easy for you, then you will probably lose, bad. If it is hard and exhaustive, tedious and seems like you waste a lot of time watching and waiting, then you will probably win, if you have any kind of feel for it.
And like the young panthers, you will probably miss more than you get at first. Hunger drives and practice sharpens instincts which improves your skill. If you are not a born killer, you will probably die of starvation, but if you have that thing, you will probably be able to make it pay off … though the market and bad stuff might kill you off (break you and destroy your will to invest any more) anyway.