I hope you are having a good Friday. The weekend is almost here and I have another great submission for the 30 Days to Becoming a Better Investor series. However, tonight’s entry is on the darker topic of despair, so I hope you are mentally prepared.
Harvey Multani of Fiscal Times writes:
Imagine a cocktail composed of that knot-like weight suspended in your stomach feeling you get when you suspect that your first love is cheating on you, mixed with that dark place you go after getting rejected from your dream school, and topped off with your disillusionment the day you discovered there was no Santa Clause.
Wow, that is some painful stuff. Harvey’s post on despair goes on state, “Your ability to cope with despair is directly proportional to your financial success.” I agree with him totally.
I recommend that you read this excellent article where Harvey explains how you can improve your mental toughness, and therefore help you become a better investor by staving off despair.