THE three words (actually five) for meditation.
I have recently tried to start meditating. It's something that I wish I could do and wish I could discipline myself to find time for. Whilst I have always exercised, in the last two years I have successfully managed to actually schedule it into my life - it happens at the same time each week, it's in my diary and I do it. I know that I need to do the same with meditation because at the moment I try and do it before I go to bed and I am so tired I fall asleep. The benefits of mediation have been proven for decades, but more recently people have realised how it can help in a business context. Some of the business world's top leaders have openly talked about how meditating helps them make better business decisions. I haven't read too much about meditating and investing but it seems to me that the two things are very complimentary. Meditation involves mantras and successful investors need mantras to live by, particularly in times of great volatility.
Some of my mantras are:
Market falls are temporary. Market falls are temporary. Market falls are temporary.
Remember that stocks are companies. Remember that stocks are companies. Remember that stocks are companies.
It's never different. It's never different. It's never different.
I have a lot. But I wanted to focus on one, which is very simple, it consists of three words and could be the most powerful three words in the process of building wealth. I would go far as to say, if words could make you rich, these are the words:
Just. Keep. Buying.
Ok, yes, but what should I be buying Georgie, and when should I be buying it?
What I am talking about is buying companies (stocks, equities - all the same thing). When, how much...all the other questions - they don't really matter. All that matters is that you keep buying.
When the world looks like it is going to end, what do you do? You meditate with your mantra. Just. Keep. Buying.
When Trump looks like he might do something crazy, what do you do? You meditate with your mantra. Just. Keep. Buying.
When everyone is selling, what do you do? You meditate with your mantra. Just. Keep. Buying.
I know, I know, it sounds so easy. The reason we need a mantra is that there are always a million reasons to sell. The world looks like it is going to end, Trump looks like he might do something crazy, everyone else is selling....etc. etc. etc. It can be hard to find reasons to buy, yet buying is always the right thing to do. You need to make buying stocks a habit, like paying your mortgage, or paying your phone bill. Or anything else you do like clockwork.
Although, thinking about it. The mantra needs to be five words.
Just. Keep. Buying. Never. Sell.
The only time you should sell is to rebalance your portfolio or in retirement. As the great investor Peter Lynch said, "The secret to making money in stocks is to never get scared out of them".
You need to hold on to your assets as you acquire more.
And that's it really.
Just keep buying, AND
Oh and get yourself a great investment advisor whom you trust implicitly to keep you buying and stop you from selling, because I can be fairly sure that, simple as it sounds, you won't be able to do it yourself.