THE REAL INVESTING COURSE // THE GAME OF INVESTING PAGE: 1 // 4

PART ONE: THE GAME OF INVESTING

TAKEAWAYS
This is a quick summary of the entire module, highlighting the core concepts, ideas, and principles.
If you ever need to refer back to a specific point, this is where you should start.

1. THE GAME
a. Markets are hard to quantify. Investing isn’t an exact science like physics. There are
rarely any formulas that tell you the right thing to do.

i. You need to find the answers applicable to you and develop your own investing style
and process.

b. Markets are constantly changing. What matters today will change at some point without
any notice, which might affect your portfolio.

i. You need to be mindful of such changes and build a portfolio that incorporates them.

c. The market doesn’t have a start or an endpoint. Each investor decides when to play and
for how long.

i. You need to proactively manage your portfolio to control risk.

d. The market is indifferent to what happens because it’s not a person with feelings. Try not
to take the game too personally, and instead use your emotions as valuable insights.

i. Avoid trying to prove a point or to be right and teach the market a lesson. Focus on positive
returns, not on being right.
ii. Emotions are not the enemy and can be a valuable source of information about ourselves.
Emotional choices and behavior are what we definitely want to prevent.

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 2. YOUR GAME
a. Investors need to understand who they are and what their goals are.

i. Self-awareness around who you are as an investor will help you make investment decisions
that fit with your goals and lifestyle.

b. Some of the important variables to determine an appropriate investing style are: motivation
for investing, preferred time horizon, asset classes, markets, instruments, and risk tolerance.

i. Finding the answers to those questions will narrow down the investments you should be
making (based on your preferences).

c. To be a better investor, you also need to look outside of the realm of markets and improve
your mental game.

i. A holistic approach to investing also means focusing on your physical and mental health
and relationships. Neglecting any of these will likely at some point result in poor investing.

3. IDEA GENERATION

a. If you want to become a better investor, you will have to take ownership of your investments
and constantly apply judgment to the ideas you generate from other sources.

b. Learn how to leverage social media to generate ideas and meet new and
interesting people.

c. Traditional media is a lagging indicator most of the time. Be mindful when using for your
research process.

d. Most information is noise. There is always more of it. Be specific about what you need to
know to make a certain investment.

e. Many investments need a catalyst to make them move in your direction. Something being
cheap or expensive is not a catalyst.

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