Lessons Learnt, page-6

Excellent thread and some great posts above. I'm going to bookmark this one.

Reckon what's become most apparent to me over the past few years is that the market is both a get rich slow scheme and a get poor quick scheme. If you're looking to quickly double your money, you're in for more fun and fewer surprised at a roulette table - and they serve cocktails.

Secondly, quality and consistency are your best friends. Quality businesses run by quality people with a consistent track record, and quality research and consistent buying on your part.

Don't rush into anything. You can afford to sit on the sidelines and observe for a week, a month, a year. Truly great companied grow steadily over decades, not all in 6 months. Observation should be part of your research. It's that FOMO thing again.

Finally, and this is just my own observation, but there's plenty to be said for having a boring portfolio made up of large caps that you've known by name all your life. They have plenty of power to surprise on the plus side and are highly unlikely to keep you lying awake at night - Telstra being the notable exception in my own portfolio.

Whether they'll admit it or not, I think most investors have had a BIG experience along the way. I've had two! It's part of how you learn, but it's certainly awful at the time and I feel for everyone going through it.

Onwards and upwards.