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Has anyone taken the CAIA ? Any tips ?
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While I agree with you that emotional discipline is underrated, sometimes bold moves pay off. But to that point it's keeping your cool in those situations that bring it to success.
Can’t be successful long term without a bit of both smarts and staying away from emotional decisions. You can be lucky over a short term.
One of the classic books on Wall Street was Reminiscences of a Stock Operator, which was published a century ago. It recalls the market of the late 19th century, and in some ways it's an examination of market psychology. Everything has changed, of course, but people are still people, and our emotions still operate the same as they always have. There is a case to be made that the calm hand always has an advantage in the market.
What experiences have you had where emotional intelligence trumped market insight? I can't say that my experience has been the same.
That's a powerful point I’ve seen emotional intelligence outperform market instincts more than once, especially when things get volatile. For me, it’s usually during drawdowns: staying calm while others panic has saved me from emotional selling. Curious to hear — how has your experience been different?
There is real skill in being objective and taking a view. Emotions are much easier when you can make peace with an outcome before you purchase a security. However, the best investors are also very smart. It’s a disservice to say emotions play a bigger role, that’s simply not true.
If these were percentage questions. I would say you are 45% correct. You can't be the market, unless you have inside information like people on Hill (federal gov't) To do well in the market you must do your research and look for good trades in the odds places. That what makes up the other 55%. That my opinion.