Have You Found Your Investment Mentors?

Wouldn’t it be nice if we can have a mentor who will guide us in our equity investment journeys?

While we could network with other like-minded investors to learn from each other, why not put in effort to learn from some of the successful equity investors in the world as well?

One of the fastest ways to accelerate our learning curves in equity investment is learning through a Neuro-liguistic Programming (NLP) method called “modeling”.  NLP has been practised by many people around the world to achieve peak performance. In short, we could programme our mind to think in certain manner to achieve a desired outcome.

Simplified steps in using modeling technique:

Step 1: Begin with the end in mind

We need to have awareness of our desired outcome; it could be an outcome such as being a successful investor. How do we define successful investor? It varies by individual. We could set our own target such as the desire to have RM1 million equity portfolio in 10 years’ time with potential dividend income of RM50k a year based on 5% yearly dividend return from our portfolio by then.

Step 2: Find a mentor

Find a person(s) who has achieved similar success or those who are able to impart the necessary knowledge that we need.

Step 3: Dig deeper

 These are the people that we might want to study in details so that we could re-create the excellence and investment success achieved by these people. As a start, we could buy books that talk about investment success and investment methodology of Warren Buffet, Peter Lynch, Philip.A.Fisher, Charles Carlson and Malaysian Investor by the nickname of “Cold Eye”.  Learn how they compound their wealth over time and how they choose which industry or company to invest into.

 

The wisdom or info shared in those books could be priceless and helpful to shape your thought process. The prices of these books could range from RM39 to RM100 per book. It will be a great investment!

We could also search for online articles to read in order to understand the wisdom shared by these investors. Another investor we could read about is Charlie Munger.

Step 4: Practise

Once we have learnt their thought process and investment methodology, we could apply what we think is relevant and monitor our progress thereafter. The modeling method is a dynamic process, so keep learning and keep applying the relevant know-how; it could at least improve our chances of achieving investment success. Not forgetting the wealth of knowledge that we learn from these successful mentors!

Lastly, REPEAT the above process in other areas that you wish to model.