What’s one habit you adopted this year that you’re hoping to take with you into 2022?
How did you get started with this habit? What has felt good about it? What might make it tough to keep up with?
Journalling - I have tried my hand at it a couple of times and failed for two reasons: a) I couldn’t find a god journal that met my purpose, and b) it was difficult to make it a part of my routine (I didn’t want to journal at night).
My purpose behind journaling was to track my health and habits, and to capture my decisions and emotions. Since we take so many decisions in investing every day, I wanted to reflect upon these at a later time and connect them to my sleep routine, emotional state etc. I also use the journal to track my research and make notes. This way, I can go back to any company that I had looked at months ago and refresh my memory in less than an hour.
I also use the journal to reflect upon mistakes that I discover as well as to capture random thoughts about important subjects (like this post was slowly developed in Notion). The reason that I like to do this in Notion over any other app or physically (I somehow never caught up to the idea of keeping a diary) is that Notion is a very powerful relational database management system. This means that I can create a database for each of the things that I want to track/write about, call one database in another, create multiple views, filter these databases on various parameters etc (it’s not really as complicated as it sounds once you see the use case).
What one habit or behaviour stopped you from doing better this past year?
Why did this habit/behaviour persist? How can you ensure that it doesn’t become a hinderance going forward?
I could have done better with spending lesser time playing online games like Catan or Poker. I enjoy these games as they are a good mix of skill and luck, just like investing. They can be good grounds to hone your decision making skills as well as make peace with lady luck’s mood swings. The problem with these games is that you could spend an hour on them and not realize (one game play of online Catan takes around 20-30mins). Do that two-three times a day and you have lost a good three hours (an average book takes 3-4 focused hours to finish).
Of course, one doesn’t want to be all work and no play (WB also enjoys the game of bridge). I don’t intend to eliminate these habits completely from my routine. However, I sure would like to set aside not more than an hour on these games in a day. Maybe using something like screen time on the ipad will help (or worse, ask the wife to set a password to open these apps so that every time you want to access them you will need her permission 🙈). I am open to suggestions.
What one habit you want to pick up/give up/get better at in the new year?
Why this and why now? What might make it tough to do? What will feel different if you’re successful with it?
I have been trying to Meditate, but haven’t been successful in making it a part of my daily schedule. This is something that I would want to work on in the coming year.
What’s the best book (or article) you’ve read lately?
What made it so wonderful? Did anything surprise you about it?
I don’t read a lot of books, but of the few that I read this year, Richer Wiser Happier really stood out. Not only is it a good window into the journey/philosophy/thinking of so many investors, but what really stayed with me was:
a) each of the investors profiled in the book had a very independent thought process. None of them conferred with the then prevailing views;
b) each of them had a different approach to investing and all of them were successful in their own rights; and
c) all of them went through some form a long struggle in life - not even the best are spared.
What’s your top highlight of this year?
What makes it so special? What did you take away from it?
I met some amazing private investors this year - all well-known personalities in their own rights. A common thread among all of them was how humble each of them were. Everyone had a different path into the stock markets, different investment styles, operated out of different places, but all of them were prolific readers (and some of them very good writers as well).
What made these meetings even more special is that I am generally very introverted. Networking is not one of my best suites, and I would have never had to opportunity to meet with these amazing individuals, had it not been for the internet (and this newsletter). Ever so grateful for the internet that not only entertains us, but also teaches us and connects us.
One of the common threads from meeting as well as reading about various investors is that the market allows everyone to chart their own path to success (whatever the yardstick - fund size, performance, financial freedom) so long as you are humble, observant, open to learning, and operate with common sense. Most of these people operate better alone (or function well in small teams only), and without exception, all of them are voracious readers. Of course, a little bit of luck goes a long way into making these successes, however, not everyone can capitalize on a lucky break.
What’s one thing that didn’t work out this year / What troubled you the most this year?
Why was it important? What did you learn from this adversity?
I am not sure I am ready to share this widely, so I’ll leave this one for my journal.
Year End Reflections - 2021
Year End Reflections - 2021
Year End Reflections - 2021
Journalling - I have tried my hand at it a couple of times and failed for two reasons: a) I couldn’t find a god journal that met my purpose, and b) it was difficult to make it a part of my routine (I didn’t want to journal at night).
I designed my own journal in Notion after discovering this amazing journal and used the 5-day programme of tiny habitsto make sure that the habit stuck. I am now at it most days.
My purpose behind journaling was to track my health and habits, and to capture my decisions and emotions. Since we take so many decisions in investing every day, I wanted to reflect upon these at a later time and connect them to my sleep routine, emotional state etc. I also use the journal to track my research and make notes. This way, I can go back to any company that I had looked at months ago and refresh my memory in less than an hour.
I also use the journal to reflect upon mistakes that I discover as well as to capture random thoughts about important subjects (like this post was slowly developed in Notion). The reason that I like to do this in Notion over any other app or physically (I somehow never caught up to the idea of keeping a diary) is that Notion is a very powerful relational database management system. This means that I can create a database for each of the things that I want to track/write about, call one database in another, create multiple views, filter these databases on various parameters etc (it’s not really as complicated as it sounds once you see the use case).
I could have done better with spending lesser time playing online games like Catan or Poker. I enjoy these games as they are a good mix of skill and luck, just like investing. They can be good grounds to hone your decision making skills as well as make peace with lady luck’s mood swings. The problem with these games is that you could spend an hour on them and not realize (one game play of online Catan takes around 20-30mins). Do that two-three times a day and you have lost a good three hours (an average book takes 3-4 focused hours to finish).
Of course, one doesn’t want to be all work and no play (WB also enjoys the game of bridge). I don’t intend to eliminate these habits completely from my routine. However, I sure would like to set aside not more than an hour on these games in a day. Maybe using something like screen time on the ipad will help (or worse, ask the wife to set a password to open these apps so that every time you want to access them you will need her permission 🙈). I am open to suggestions.
I have been trying to Meditate, but haven’t been successful in making it a part of my daily schedule. This is something that I would want to work on in the coming year.
I don’t read a lot of books, but of the few that I read this year, Richer Wiser Happier really stood out. Not only is it a good window into the journey/philosophy/thinking of so many investors, but what really stayed with me was:
a) each of the investors profiled in the book had a very independent thought process. None of them conferred with the then prevailing views;
b) each of them had a different approach to investing and all of them were successful in their own rights; and
c) all of them went through some form a long struggle in life - not even the best are spared.
I met some amazing private investors this year - all well-known personalities in their own rights. A common thread among all of them was how humble each of them were. Everyone had a different path into the stock markets, different investment styles, operated out of different places, but all of them were prolific readers (and some of them very good writers as well).
What made these meetings even more special is that I am generally very introverted. Networking is not one of my best suites, and I would have never had to opportunity to meet with these amazing individuals, had it not been for the internet (and this newsletter). Ever so grateful for the internet that not only entertains us, but also teaches us and connects us.
One of the common threads from meeting as well as reading about various investors is that the market allows everyone to chart their own path to success (whatever the yardstick - fund size, performance, financial freedom) so long as you are humble, observant, open to learning, and operate with common sense. Most of these people operate better alone (or function well in small teams only), and without exception, all of them are voracious readers. Of course, a little bit of luck goes a long way into making these successes, however, not everyone can capitalize on a lucky break.
I am not sure I am ready to share this widely, so I’ll leave this one for my journal.
Inspired by this thread.