“I spent most of my childhood struggling to learn Spanish at school. Then I went to Spain, spoke nothing but Spanish for 30 days, and came back almost fluent. For almost any subject, the classroom will get you started but mastery comes from immersion.” says David Perell on Twitter.
It is OK to delegate all your investment decisions to others. It has risks that you must address, but unless you manage the risks correctly, you’ll never achieve great outcomes. To get better outcomes, you’ll need to be more hands-on. In other words, “Mastery comes from immersion”. It’s vital to start asking better questions. To engage in conversation that is meaningful. Where you have understanding. Without ‘immersion’ your outcomes are based on luck. That is no way to manage your future financial security.
Mastery is a process. It is an intention to understand more about what you are doing by getting immersed into the subject. In the world of investing you don’t need to become a ‘master’, you simply need to be curious enough to realise it matters to get involved.
Simply delegating to others and asking shallow questions opens you up to mistakes.
Here’s a start to help you build a process