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Confessions Of A Gambling Value Investor

I've read Phillip Fisher, Benjamin Graham, Warren Buffett, and Peter Lynch, so Ishould know how to behave.

I shouldn't worry about the gyrations of a stock price and should focus on the underlying business.

However, I now find myself checking stock futures before getting out of bed in the morning, checking stock prices on my cell phone while driving (which is illegal I think), and the last straw...I put my cell phone in a ziplock bag to check stock prices while showering.

I'm a dude. It takes me five minutes to shower. How much could possibly change in the five minutes I'm in the shower?

Ok, let's be real here. Gambling is fun; and the stock market can have some casino like qualities (sure wish I could order a bloody mary from my stock app on my iPhone), but I should know better.

I believe Warren Buffett being in Omaha gives him a supreme advantage over being on Wallstreet. Also, Sir John Templeton had the best performances of his life after he moved to the Bahamas and received the Wall Street Journal on a one week delay.

Investing should be fun. If it's not, you're doing it wrong. But I need to derive more fun from learning about businesses, and less fun out of watching the stock price 'beep' and 'boop' all over the place. (Seriously, those noises are about to drive me bonkers.)

Ben Graham lays out a good strategy in The Intelligent Investor about a proper portfolio allocation. I'm currently in the range that would make him proud, and now I just need to let it ride.

Here's a new rule for myself to keep me in check: Check my stock prices only twice per day.(whaaaaaaaaaat?!) Once in the morning and once around closing time.

The stock doesn't know I own it. So habitually looking at it doesn't do either one of us (me or the stock) any good.

Since I don't look at the stocks as much on down days, if we get a huge market correction, I wouldn't need to take my own advice at all anyway.

Disclosure: I am long GLW, BKE, BRK.B.

Additional disclosure: I'm not a financial advisor, I'm just some dude that gets a lot of joy out of saving money and investing it.