Well, the negative is probably obvious. Sharing my portfolio publicly may create a commitment bias. It's hard to change your mind once you propagate all the bullish pov on stocks you own.
1/9 I have noticed a counterintuitive benefit from sharing my portfolio publicly. This isn't call for you to share your portfolio publicly; I'm aware it is not feasible/rational for many out there.
I'm just explaining how I think it helps *me*.
Well, the negative is probably obvious. Sharing my portfolio publicly may create a commitment bias. It's hard to change your mind once you propagate all the bullish pov on stocks you own.
It would create a cognitive dissonance if I get in and out of stocks every few months and yet claim myself long-term oriented simultaneously. So I kinda have to remain invested unless...
While that sounds like a lot of negatives, I'm increasingly thinking the opposite.
If in 30 years I discover my return severely lagging the index, I already know who the culprit is. It isn't Fed, Xi, or any US President. It's me.
Not having the option to flipping stocks every other month is likely to work in favor of my eventual goal of long-term ownership of great businesses.
I just need to make sure I do have such reasons.
Since I cannot just wake up one morning and decide to sell, I need to be fairly certain that I want to *own* this company before I buy a stock.
Even then, being able to cope with difficult experience in public is a skill that should come handy in the LT.
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1/ Here’s a list of conversational frameworks I’ve picked up that have been helpful.
Please add your own.
2/ The Magic Question: "What would need to be true for you
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
Please add your own.
2/ The Magic Question: "What would need to be true for you
1/\u201cWhat would need to be true for you to\u2026.X\u201d
— Erik Torenberg (@eriktorenberg) December 4, 2018
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A thread, co-written by @deanmbrody: https://t.co/Yo6jHbSit9
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
