Mark Gomes'  Instablog

Mark Gomes
Send Message
This profile, along with Mr. Gomes' investment methodology and article on "Tripling Your Money" (http://tinyurl.com/nx336wn) are required reading to understand how Mr. Gomes' researches and trades his picks. His updates are communicated via his Seeking Alpha Instablog/Articles/Comments and... More
My company:
Pipeline Data, LLC
My blog:
The Pipeline Data Newsletter
My book:
Faster Than Forty
  • 58 Cognitive Biases That Screw Up Everything We Do 8 comments
    Jun 25, 2014 11:40 AM

    This is a great read for investors who wish to take their game to another level. In my opinion, understanding (and finding ways to overcome) your psychological weaknesses is one of the Top 3 things you can do to increase your future net worth.

    http://www.businessinsider.com/cognitive-biases-2014-6

Back To Mark Gomes' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (8)
Track new comments
  • Mark Gomes
    , contributor
    Comments (2774) | Send Message
     
    Author’s reply » Many of these are covered in our "Methodology" on PoisedToTriple's website!
    25 Jun 2014, 11:41 AM Reply Like
  • thestockbroker
    , contributor
    Comments (608) | Send Message
     
    You are a brave man, the thought of asking most SA posters to analyze themselves and why they make the decisions they make, which means POSSIBLY realizing on some levels they were wr*ng (a word seldom used) and must rethink what they've been doing for 10-15+ years (and losing money) but can defend to the death I predict will get this thread many many posts, with very few saying "I now realize what I was doing wr*ng" thank you so much. Get out the asbestos boxers, it's gonna get hot in here.
    25 Jun 2014, 01:11 PM Reply Like
  • 17293582
    , contributor
    Comments (4) | Send Message
     
    thanks for the info Mark. I guess this sums up the mental prepareness needed for investing.
    25 Jun 2014, 01:24 PM Reply Like
  • tampat
    , contributor
    Comments (1376) | Send Message
     
    What are the other 2?
    25 Jun 2014, 02:46 PM Reply Like
  • Mark Gomes
    , contributor
    Comments (2774) | Send Message
     
    Author’s reply » I didn't have a specific "Top 3" in mind, but subscribing to PTT and following our Methodology come to mind! http://bit.ly/1lsGirT
    25 Jun 2014, 04:15 PM Reply Like
  • sheldond
    , contributor
    Comments (1422) | Send Message
     
    Mark,

     

    big fan of the psychology. It has helped me find a few triples myself. Hard to look at yourself and be honest but it pays off. Great Post.

     

    D
    25 Jun 2014, 05:14 PM Reply Like
  • WITCH TR▲DER
    , contributor
    Comments (10) | Send Message
     
    Charlie Munger's 1995 speech called "The Psychology of Human Misjudgment" is great. He covers 24 biases, some of which certainly relate to investing. One of the best lines was in regards to Coca Cola management making a huge mistake with "New Coke":

     

    "Smart people make these terrible boners. How can you not understand deprival super-reaction syndrome [loss-aversion bias]? But people do not react symmetrically to loss and gain. Well maybe a great bridge player like Zeckhauser does, but that’s a trained response."

     

    That idea of a symmetrical reaction reminded me of another point Munger made (in a different interview I watched) where he quoted Kipling- "If you can keep your head when all about you / Are losing theirs"

     

    Both very good lessons for investors!

     

    The video of the his speech is here: http://bit.ly/1qeNMlY

     

    There is also a transcript since it can be hard to hear at times: http://bit.ly/HOrFyW

     

    -Ryne
    26 Jun 2014, 11:35 AM Reply Like
  • The Behavioral Economist
    , contributor
    Comments (847) | Send Message
     
    Mark,

     

    Given the topic at hand here (Psychological Tendencies and Behavioral Finance) I can't help but contribute. Thus, if I may, I would like to suggest two sources which may be of interest.

     

    1) An article of mine which attempts to simplify the benefits of knowing who you are and utilizing such in investment strategy.

     

    http://bit.ly/1qfBSsf

     

    2) A fantastic lecture by Greg LaBlanc from the Haas School of Business about behavioral finance and investment strategy.

     

    http://bit.ly/1jobIMr

     

    Of course, I would also suggest that readers look into Mark's services offered further at PTT. Any methodology that includes the process of behavioral understandings as a resource is certainly worth exploring and considering.
    26 Jun 2014, 03:14 PM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.