I’m 20 years old and have been fortunate enough to build a portfolio of over 6 figures. But the biggest things I’ve learned haven’t come from my best investments. They’ve come from the mistakes and conversations along the way. Three things investing has taught me so far: 1. Behaviour beats picks You can pick great companies and still be a bad investor. Some of my biggest mistakes weren’t picking the wrong stock. They were letting emotion make the decision. Selling because I was scared. Buying because of FOMO. Checking a position constantly and convincing myself I needed to do something. Losing money sucks, but those mistakes have probably taught me more than any winner ever has. The longer I invest, the more I realize managing yourself is just as important as managing your portfolio. 2. Conviction comes from understanding The best investors I’ve met can usually explain why they own something in a few sentences. Not a 30-page thesis. Not 15 different metrics. What does the company do? Why does it win? Why do you believe it’ll be worth more in the future? If I can’t explain why I own something simply, I probably don’t understand it well enough to have real conviction in it. And without conviction, it becomes a lot harder to hold when things inevitably go against you. 3. Community makes you a better investor I work at Blossom, so I’m biased, but this became pretty obvious once I was surrounded by other investors every day. Not blindly following picks, but having your thinking challenged. Someone might point out a risk you completely missed, introduce you to a company you’ve never heard of, or have a completely different perspective on something you already own. You still have to make your own decisions, but investing around people who constantly challenge the way you think is incredibly valuable. I’m only 20, so I definitely have A LOT left to learn. But if there’s one thing I’m realizing, it’s that becoming a better investor has a lot less to do with finding the next 10x stock and a lot more to do with becoming better at how you think. LMK your biggest mistake in investing (could be buying a penny stock or shorting $NVDA) I want to hear it!
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10 Comments
Anthony Holstein@anthony.invests · 5dEdited
Good lessons Tim!!! I agree a lot with conviction comes from understanding. A quote I like from astronaut Chris Hadfield is "the more you know, the less you fear". This definitely apply to stocks too 💪
Dividendmoney @compoundculture · 5d
“Let tim cook“-me. Forever iconic lol
Liam @liam4 · 6d
Great lessons!!
DM @dmomo · 5d
I was guided into the world of investing by my parents. They did an excellent job of fine tuning the gameplan that would define my financial life. My biggest mistake was a product of my youth and my early success: mistaking luck for skill. I didn't fall very far. But I can still feel the sting of the slap I received 25 years ago.
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