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The Contrarian Mindset


Wealth Builders are natural contrarians at heart. They don't find comfort in the masses. The more popular a belief or idea is the more they tend to avoid it. Social proof tends to be over rated. If you really want to become a successful investor or business owner it often takes nerves of steel - being willing to go against the grain. Going with the crowd can get you killed in the markets. There's an old saying, the trend is always right accept in the extremes, when a trade is over crowded its time to get out. 

When I look at my own investing experience, the times I've made the biggest mistakes is when I made a decision based on some fear (often fear of missing out, or fear of prices going higher). I've now become very aware of or at least I ask myself, what dominant emotion is driving this (investment) decision right now? Am I following a methodolical non descretionary system or am I making a decision based on how I feel in the moment - if so, what made me feel this way? Is it something I heard, read, saw recently?

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