The internet is enabling us as investors unprecedented access to other investors and has created unbelievable opportunities….if you’ll do some work and accept the knowledge they offer.
Here is a little story:
A priest offered a Nun a lift.
She got in and crossed her legs, forcing her gown to reveal a leg.
The priest nearly had an accident.
After controlling the car, he stealthily slid his hand up her leg.
The nun said, ‘Fathe r, remember Psalm 129?’
The priest removed his hand. But, changing gears, he let his hand slide up her leg again. The nun once again said, ‘Father, remember Psalm 129?’
The priest apologized ‘Sorry sister but the flesh is weak.’
Arriving at the convent, the nun sighed heavily and went on her way.
Upon his arrival at the church, the priest rushed to look up Psalm 129. It said, ‘Go forth and seek, further up, you will find glory.’
Moral of the story:
If you are not well informed in your job, you might miss a great opportunity.
The same goes for investing. Do yourself a favor. Follow the those on StockTwits for a day or so. There is a mix of traders and investors there. The beauty of it is that it is a stream of conscious thought and a back and forth (respectful, unlike message boards).
You can follow the whole community, the traders, the investors or just a symbol in a portfolio. Essentially it enables you to make it what you want it to be. There is one thing you will notice if you follow it. Those who are successful, work at it. They are not blindly buying and selling. The action is thought out and has a definite rhyme and reason to it. The conversation and sharing both starts well before the market does and continues after it closes.
At the end of the day, they are going through data to find new ideas. They are constantly testing their thesis, sharing ideas and considering feedback from the community. Everyone who invests occasionally hits a spell of blind luck (good or bad), at times we make or lose money due to events that were unpredicatable. But, those who are successful over the long term are so because they work at it.
As investors we benefit today because social networking allows us to both gleem their knowledge and share our ideas with them. If you follow the right ones, their generosity in giving feedback is invaluable. If you are shy, the medium allow you to sit back and just listen and learn, nothing wrong with that.
Learn from those who are successful…don’t be like the priest and miss an opportunity..
Disclosure (“none” means no position):None
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