Brett Steenbarger of Trader Feed has three important life lessons that parallel investing in the stock market and exchange traded funds (ETFs). After experiencing acute appendicitis, and being delivered to a community hospital, he learned that being outside of one’s comfort zone is a way to expand yourself, and that you’re probably meant to be there. His points are:
- A Little Knowledge Can Be Dangerous. By initially minimizing his problems, he didn’t seek the help he needed. Only after he revised his view did he realize he was in trouble. When losing money in the markets, it can be an unlucky streak or a temporary position but be open to the idea that your trading methods are flawed and may need to be adjusted if your reasoning follows a normal distribution curve.
- Advocate For Yourself. In a situation with limited resources the patients who received the best care were the self advocates. If you are an investor or trader, never assume that others will provide you with the tools and techniques you need for success. You only get out whatever you give in.
- Networking Is Your Best Survival Tool. It is in everyone’s best interest to share information and help each other out. In a world of limited information and resources, you are better off with many points-of-view. Knowledge is a social process and expertise is distributed.
We admire Brett’s work and thank him for sharing his experience and lessons learned. We wish him well on his road to recovery.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.