Are you a gambler?
One of the avenues where I add value to my clients, is in helping them see themselves rightly. For example, if a client owns an individual stock and it trades at $ 10, but they really hope it goes to $ 12 so they can sell it and make a profit, they are probably a gambler. A gambler? Yes, I tell them they are a gambler.
With no due diligence or understanding of the security and simply a cursory glance at the industry the company is in, there is no real investing going on.
When Warren Buffett buys a stock, he knows EVERYTHING about the firm and its competitors. He buys with a ‘forever’ holding period. The ordinary retail ‘gambling’ investor does not.
Don’t be a gambler. Be an investor. The best way to be an investor is to own a broad based index fund and hold it forever. This eliminates the requirement that you know a great deal about any business or industry. Want to know how to do this? Hire me and take the journey. You will leave those gamblers in the dust, and have a bunch more free time to boot.