The main mindset change for me was the investment dogma around “more information is better irrespective of quantity.” Information was a drug and listening to all the ‘commentators’ made me believe everyone was smarter than I and I questioned my own thinking. I was a believer in that fundamentals were key and to ignore price.
I have learned that it is all noise and I do not need it to trade better. I learned that the commentators were not smarter just louder. I learned that the mainstream investment management industry (“the herd”) are not really investing just marketing. I learned to question more using my thinking supported by facts and not be drowned out by the noise.
Listening to your podcast and reading your books were enlightening. I have switched the noise off and walked away. This included quitting a 27 year corporate career in investment management (yes I was part of the herd as a mainstream portfolio manager). I have rethought “fundamentals” and am of the belief that price is the only truth in the trading game the rest can be manipulated.
I now search out new interesting ideas. I trade options using a momentum strategy, tinker with AI trading strategies (has it’s challenges but is enjoyable) and am developing my own trend following model. I am more Zen in my trading in that I am no longer reactive, I am less stressed and enjoy life (and trading) much better. Whether I succeed or not who knows, I am not going to die wondering “what if”.
I look forward to visiting one day and buy you a beer (or green tea). In the meantime keep doing what you are doing, as I for one, am appreciative.
Sounds like a plan!