- Bargaineering - http://www.bargaineering.com/articles -
Don’t Act For Action’s Sake
Posted By Jim On 10/06/2009 @ 12:05 pm In Investing | 2 Comments
One of the newest sites I’ve been reading has been The Daily Crux , a site that highlights, among other things, the most intriguing investing news of the day. It’s run by Stansberry & Associates Investment Research, a company that does exactly what it sounds like it does – investment research (and they’re based out of nearby Baltimore).
Investing isn’t my forte, I’m an adherent to simple investing through index funds with a little dabbling in individual stocks just to get my heart rate up during the day. However, I find that even if you aren’t big into the markets, it’s still especially important to keep abreast of the financial news of the day.
But that’s not the topic of this post, it was more a hat tip to Daily Crux because they introduced me to this article by Stansberry Research’s editor’s in chief, Brian Hunt. The article is titled How to Turn a 100% Gain into a 1,400% Gain  and the main idea is that you shouldn’t act for actions sake, an idea that applies to almost any facet of your life.
In the article, Hunt cites famed stock trader Jesse Livermore : “It never was my thinking that made big money for me. It was always my sitting. Got that? My sitting tight!”
So many times we use effort and action as a proxy for performance. How many hours did you spend on that job? What did you do? What steps did you take towards reaching that milestone? HOw many people are on the project?
Success isn’t determined by what you do, it’s determined by what you accomplished. In investing, don’t buy or sell stocks simply to do buy and sell because only your broker benefits . Buy when it makes sense, sell when it makes sense. In your own life, act only when it makes sense to act, not because you are tired of sitting around!
Article printed from Bargaineering: http://www.bargaineering.com/articles
URL to article: http://www.bargaineering.com/articles/dont-act-for-actions-sake.html
URLs in this post:
 Tweet: http://twitter.com/share
 Email: mailto:?subject=http://www.bargaineering.com/articles/dont-act-for-actions-sake.html
 The Daily Crux: http://www.thedailycrux.com/
 How to Turn a 100% Gain into a 1,400% Gain: http://www.growthstockwire.com/archive/2009/sep/2009_sep_28.asp
 Jesse Livermore: http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore
Thank you for reading!