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Ego is a...

Discussion in 'Shares' started by Tropo, 28th Nov, 2010.

  1. Tropo

    Tropo Well-Known Member

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    Ego is a Dirty Word
     

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  2. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
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    Ego vs first no harm

    Thanks tropo. It is a very interesting and critical word, ego for our performance in the market. Just some thought triggered by this word.

    We are not just ego but...

    We are not just ego sometime in the market. We often than not are ignorant. We are ignorant but believe we could win->We could not let us not ego. Anyone if beaten anything in the market based on his view angle is ego. It is evident but often ignorant by most of us:

    Everything could make or destroy money at any given time. Someone just destroy the money in most of time and the profit could not cover the loss. Some just make the money even they buy and sell different things. Some restaurants have to close the door in someone's hands and some just make a great business at the same location.

    Any way could lead to Rome but not all of us could be there


    Any ways could lead to Rome but not all on the same road could get there. Some of us don't want to be there. Some want but don't know how. Some want and really want to know how but could not know who they should learn from.

    W. Buffett said you need a circle(we could not run from Australia to US everyday even through the internet to know everything. If you don't know and believe you know you would be ego and have to pay the cost for your belief since belief in the market is something could let you enjoy very much) and you need to be best in your circle.

    We tend to know everything but we could not.


    Introspection and understanding of the environment change in your circle is the way to get rid of the ego even sometimes we have to go out of our own box to find the system causes for the problems of the circle.

    I know the damage which the Ego could make. Hope we could have less ego but more self and environment awareness. Past is always past and only could be the base for future. Amazon is a great buying now and in the past. It seems too strong to confirm anything based on its past chart to get some general conclusion for our market practice.

    When and where should we stay?

    We have to encourage ourselves to stay when the thing climb up over the wall of worries and warn us to get out in the downward crash. If nothing could go to the moon, you have to see Amazon chart to ponder where you should go out with what reasons.

    When you buy you have to think the margin of safety based on your value calculation(if not wrong). When you hold you have to think you could get much more without paying too much for the opportunity costs.

    When you sell you have to feel the risks is looming over without fears but based on the calculation for enoughness. Even you could feel not enough later but if you really feel enough and feel the performance/cost(capital + profit) is lower and lower, why don't sell? If the sky is the limit, for your safety, you have to set a limitation for you to fly much lower.

    Any place at better time?


    Amazon is not the world and the universe. Some new stars could be in your hand and the plays around Amazon could repeat somewhere else. We have a lot of options.

    If we don't process for best option and less risks, we are ego in a very tough words to ourselves. Some people said to choose the options, first no harm. Second I said could have better options, best options, and get the full stream to the best options if the risk affordable.

    Where is the next vehicle for us to Rome?
     
  3. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
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    Location:
    Brisbane, QLD
    Reminds me of the Australian property bubble...

    To call the timing on the pop of that puppy will likely require nothing short of a crystal ball.

    :D

    Could be some good money in the continued ramping between now and then...?