Come a bull market and everything rises. One look at the portfolio gives us a feel of elation, followed by a few satisfied grunts, some pats on our own back, that in addition to our heavy work routines we have successfully used our latent genius to make a significant impact on our wealth.
This high carries on into the office tea conversations, as also into late evening parties. Everyone is cheerful and all endings are happy.
Not to be left behind even the ladies at kitty parties are in full swing. After sharing a few success stories even start vending advise.
The next buys slowly come in via these routes.
Somewhere the wheel turns, blame it on an ill timed political move, some tightening here or there, a president falling sick or some strike in a far off land, whatever, but then the selling starts, in bits which later graduates into a torrent.
The Kitty party buys you intended to hold only thus long slowly turn into real long term investments.
That’s when the popular Warren Buffett quote comes to mind " Only when the tide goes out do you discover who's been swimming naked".
Thus , whenever doing an honest assessment of one’s potential especially in the investing field or even in your respective businesses, always discount the wind behind your sails.
To have repeated success we should bring greater objectivity to the table. It will ensure we smoothen the flukes and put the right amount of focus on our strengths as also on the areas of potential improvements.
This rigor of structured analyses leads to wealth not a temporary rise which will soon settle or change course.
