So are we asking you to read the book? Well yes, if you have the time. But if you do not, we bring you a series of Stock Shastra articles on the distilled investing wisdom of Howard Marks from the book \u2018The Most Important Thing\u2019.<\/strong><\/span><\/p>\n So will we be telling you the one most important thing that you should look out for while investing? Let us be clear at the start \u2013 there is no such thing! There is no surefire recipe for investment. They are many aspects to investing and they\u2019re all important. Successful investing requires an investor to pay attention to many aspects all at the same time!<\/p>\n Marks starts the book with a chapter on \u201csecond-level thinking,\u201d and this one of the most valuable lessons in the entire book. Having a good understanding of this concept alone will put you leaps and bounds ahead of most of your colleagues.<\/p>\n Let\u2019s start with understanding what second level thinking actually is? Perhaps it is best understood with the help of examples:<\/p>\n In short, first level thinkers look for simple and superficial answers. While second level thinkers takes a great many things into account making second level thinking deep and convoluted. Thereby, the difference in amount of work required for first and second level thinking is massive. And this is exactly why there are very few second level thinkers. As Charlie Munger rightly puts it, \u2018It\u2019s not supposed to be easy. Anyone who finds it easy is stupid.\u2019<\/em><\/p>\n What makes second level thinking all the more difficult is that Investing is more art than science. This is why no single rule will always work in investing. And thus no single algorithm can be developed. Also, investor psychology plays an important part in stock market. So, a single investment approach too cannot work all the time.<\/p>\n Thus, an important take away for investors is that the investment approach you develop has to be intuitive and adaptive rather than fixed and mechanistic<\/strong>.<\/span><\/p>\n Successful investing is doing better than the markets and other investors. Your goal should always be to achieve greater than average results.<\/strong><\/span> Which is where you will require second level thinking.<\/p>\n So, how do you acquire this second level thinking? Superior investing requires insight. And insight cannot be taught. Just like the saying in basketball \u2018You can\u2019t teach height\u2019. You need to remember that your goal is not to earn average returns rather to do better than average. And to do this you need to develop thinking process that better than the others.<\/p>\n You must think of what others do not think, see what others miss, react and behave differently than others. But that\u2019s not all \u2013 you also need to be right, in fact you have to be more right than others!<\/strong><\/span><\/p>\n If you liked what you read and would like to put it in to practice Register at MoneyWorks4me.com<\/a>. You will get amazing FREE features that will enable you to invest in Stocks and Mutual Funds the right way.<\/p>\n Need help on Investing? And more<\/b>\u2026.<\/b>Puchho<\/b> Befikar<\/b><\/span><\/p>\n Kyunki<\/i><\/b> yeh<\/i><\/b> paise<\/i><\/b> ka<\/i><\/b> mamala<\/i><\/b> hai Built on a lifetime of investment experience and analysis, \u2018The Most Important Thing\u2019 by Howard Marks explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. It gives us insightful thoughts of a man who struggles with his own investing decisions on a daily basis.<\/p>\n But why are we telling you this? Are we asking you to read the book? Well yes, if you have the time. But if you do not, we bring you a series of Stock Shastra articles on the distilled investing wisdom of Howard Marks from the book \u2018The Most Important Thing\u2019.<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1156,1151],"tags":[918,1083,924,1082,923],"modified_by":"MoneyWorks4me","_links":{"self":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/9451"}],"collection":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/comments?post=9451"}],"version-history":[{"count":0,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/9451\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media?parent=9451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/categories?post=9451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/tags?post=9451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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