Trading window closing, page-58

Experience is everything. When I was much younger I used to scoff at those that said nothing beats experience. I used to think nah, study hard, read a few books and apply it, easy; that is in all walks of life not just finance.

As I got older and made many mistakes I began to realise the value in those mistakes; thinking through what happened, possible reasons why, and learning to improve matters next time.

I have a quote on my whiteboard to remind me every day.

"You cannot create experience, you must undergo it"

As an old fart I now accept that study is important but only to the extent that study is put into practice and continuously learn from that experience. A while back I wrote that I have little respect for those that overuse buzz words in finance - to me it paints a picture of someone just out to create an impression and not willing to accept standard conventions needs to be used and adjusted to suit a specific context at a participial point in time.

Last year when I was over $200k down it wasn't a loss it was an upfront payment to the Universality of Experience. A brilliant and sobering institution that will prepare students for the next chapter and beyond..