I am one of the many students of Warren Buffett and quite successful in applying his investment methodology and philosophy，although he never knows me. Mr. Buffett once mentioned that investment is not rocket science and you don’t need a very high IQ to do it. That said, with 18 years of experiences in practicing value investment, I think that it’s not a job an average person can do it, and takes certain level of high IQ, wisdom, and certain characteristics to do it constantly well in a life time.
As a Buffett style value investor, you must have the self-discipline to follow the rules set based on your understanding of Buffett’s methodology all the time. This is easier said than done. Fear and greedy often affect your decision making and taking action decisively. There were many times I missed the best prices to buy or to sell and then waited for the best prices to back again for fearing of losing money or just being greedy, and missed the whole opportunity forever.Continue reading “The Characteristics of A Successful Investor”