why being a great investor isn’t teachable

Mark Sellers’s speech to Harvard MBA students – “I’m not here to teach you how to be a great investor. On the contrary, I’m here to tell you why very few of you can ever hope to achieve this status.”  He states that these 7 traits of great investors are impossible to teach:

Trait #1 – The ability to buy stocks while others are panicking and sell stocks while others are euphoric.

Trait #2 – A great investor is obsessive about playing the game and wanting to win.

Trait #3 – The willingness to learn from past mistakes.

Trait #4 – An inherent sense of risk based on common sense.

Trait #5 – confidence in their own convictions, even when facing criticism.

Trait #6 – It’s important to have both sides of your brain working, not just the left side (the side that’s good at math and organization.)

Trait #7 – The most important, and rarest, trait of all: The ability to live through volatility without changing your investment thought process.

Direct Link – “So you want to be the next Warren Buffett? How’s your writing?” (PDF, Speech Transcript)  via  SCRIB


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