STREET DOGS

In investing, what is comfortable is rarely profitable. — Robert Arnott Always force yourself to move towards discomfort! Investment trading success cannot come from actions that make you comfortable. Buying or holding when stocks are high (following the crowd because you cannot abide “missing the action”) is a comfort-seeking decision. Likewise, fearful selling in a collapsing and low market is moving towards the comfort of cash — again at just the wrong time. The crowd, doing the same thing collectively, is creating temporary maximum pressure and so a predictable price reversal point. Hold and/or buy when it is scariest and sell when the majority celebrate their brilliant conquests. Right, contrarian actions are always lonely and very uncomfortable. — Donald Cassidy

Once you accept that playing the game will be uncomfortable, and you do it for a while, it will become much easier. When you think that it’s too hard, remember that in the long run, doing the things that will make you successful is a lot easier than being unsuccessful…. It is up to you to connect what you want with what you need to do to get it, and then to do those things which might be difficult but produce good results. The best advice I can give you is to ask yourself what you want, then ask “what is true”, and then ask yourself “what should be done about it”. — Ray Dalio

Every great investment is born from decisions that were harder than they appear to an outsider…. Investors have a fascination with no-brainers, obvious decisions, and easy money. The phrases should be chapter titles in a book on the ease of deluding yourself. A critical part of investing is distinguishing what looks easy in hindsight from what feels easy right now. — Morgan Housel