원문 보기
my dream is to make my own hedge fund one day and I keep learning from best investors and invite you to do it with me so hi investers and today we are diving into the mind of Stanley dren Miller arguably the best investor you've never heard of maybe but why should you care well how does a 30e streak of positive return sound or an average annual return of 31% yeah I thought that might get your attention must be even if you're a passive index fun devote Dragon Miller in sides can sharpen your investin mindset and help you to avoid common pitfalls so buckle up and we're about to learn from a master key points for an interview first of all the happiness quotient dren Miller believes passion is the key to success he says if you love what you do first of all your work ethic is going to be fantastic because you are going to work hard I think you're just going to be better at something if you enjoy it then if you don't enjoy it this applies Beyond investing also wherever field you're in finding genuine enjoyment in your work can be a massive competitive Advantage second envisioning the future one of the dren Miller superpowers is his ability to see TRS before others he explains you're are constantly keeping yourself involved what with what's going on in the world and trying to figure out the puzzle and envision the world as it might be as opposed to it's the way now this Forward Thinking approach led to some of his biggest wins like predicting the 2008 financial crisis but it's not just about making money it's about understanding how the world is changing third don't invest in the present this might sound counterintuitive but Dron Miller warns against getting caught up in current trends he shares you always have to sort of imagine the world the way it's going to be in 18 to 24 months as opposed to now if you buy it now you are buying into every single fat every single moment Instead try to picture how things might look in the near near future what Industries or companies are poised for growth what current Darlings might be overvalued four concentration over diversification dren Miller isn't a fan of spreading investment to Fe thing he advises put all your EGS in one basket and watch it very carefully while this goes against conventional wisdom he argues that when you have deep conviction in an investment it's worth taking a significant position just make sure you're constantly monitoring and reevaluating that position five Act Fast research later in today's fast moving Market Dron Miller believes in quick action if you have an idea invest quickly study it more later he calls this invest and then investigate the idea is to get uh in in Opportunities before they disappear then do your deeper research to confirm or adjust your position weird six the importance of leading indication indicators dren Miller pays close attention to Leading economic indicators like housing starts and trucking activity he explains if you got a business like housing that leads or retail that coincident or tracking that leads I have found that if you get into management and even one level down from Top management and you talk about the trends usually the economy is not going to have a good future this approach helps him anticipate economic shifts before they show up in official data seven be imaginative about what could go wrong why while optimism is important drag and Miller stresses they need to consider potential pitfalls you have to constantly be evaluating what could go wrong but I'll turn that on its head you also have to evaluate what could go right this balanced approach helps him avoid blind Sports and Sport unexpected opportunities eight the danger of zero interest rates dren Miller expresses concern about the long-term effects of prolonged low interest rates we've borrowed so much from our future I'm actually not really bullish on the long term he worries this could lead to a period of Market stagnation similar to 1968 to 1982 nine the importance of family inbalance here also despite his intense focus on investing Dragon Miller emphasizes the importance of family the best thing you can do if you have more than one child is spend oneon-one time with each CH child because they're always competing he credits his wife for their children's success stressing the value of quantity time over just quality time so what his conclusion here he's very unpredictable investor so what can we learn from Stanley dren Miller here are the key takeways again find passion in your work first of all it's a massive competitive Advantage always be thinking about the future not just the present it's all about investing by the way don't be afraid of concentration when you have high conviction four act on good ideas quickly but continue to research and adjust pay attention to Leading economic indicators for a glimpse of what's coming consider both what could go wrong and what could go right be aware of the broader economic environment and its long-term effects never forget the importance of family and balance in life you should have a rest also remember you don't have to be a hedge fund manager to benefit from these insights whether you are picking individual stocks or just trying to understand the market better Dron Millers wisdom can help sharpen your investing mindset and if you want to see my results as a portfolio manager take a look right here that's it for today investors if you found this valuable don't forget please to like And subscribe and share this is incredible important for me please do it until next time keep learning and happy investing and profits for you thank you
Comments 0