https://financialpreparedness.substack.com/p/process-and-results
. . . the more a player focuses on winning (the result), the worse he performs. That's why legendary coaches such as John Wooden, Bill Walsh and Nick Saban stressed focusing on the process instead. Do that and the results will take care of themselves.
Most investors don't have a successful investment experience because they're focused on returns (the result), usually to the point of chasing them (instead of chasing value). Not only do they not focus on their process, most of them don't even have a process. They're like a ball in a pinball machine, bouncing off each new story from the financial media.
Having a process that has delivered good results over a long period of time (and for logical reasons, instead of just luck) keeps you grounded and calm. Instead of panicking when things go sideways, sticking to a trusted process keeps you focused on actually taking the necessary actions that will produce the desired result.
I had 100 dollars worth of bitcoin in my cart at $3 each. I decided to wait because I wasn’t sure about the wallet thingy and security. The next day it went to 80 dollars and I said forget it!
At least I have some gold and silver. I’ll be good if they quit fucking with the price.