Legendary Wall Street Journal financial columnist Jason Zweig shows the essential strengths that the best investors share - and teaches you how to cultivate them in yourself to beat the market.
Most investors control the wrong things. Open any investing book, tune in to financial television, or watch any TikTok 'finfluencer', and you'll immediately hear the same lie: investing is a struggle against the markets, and it's a struggle you can and must win.
Forget that.
These aren't the people you have to beat in order to succeed as an investor. Instead, you need to outsmart an even more powerful adversary: yourself.
In this illuminating book, Jason Zweig shows what it really takes to be a great investor: the right temperament. The best investors share a few essential strengths - the seven virtues:
- Curiosity - the intrinsic drive to learn and understand more about the world around you.
- Skepticism - the refusal to accept financial orthodoxy or believe anything without evaluating the evidence.
- Discipline - using consistent rules to structure decisions and measuring results over time.
- Independence - thinking for yourself and assessing your performance by your own standards.
- Patience - realizing that investing success is determined over decades, not milliseconds.
- Courage - enduring the worst market swings and being willing to do the opposite of what feels easy.
- Humility - being honest about your skills, your limitations, and the power of luck.
Zweig draws on the wisdom of legendary investors including Warren Buffett, Charlie Munger, John C. Bogle, and Benjamin Graham, while incorporating insights from financial history, behavioral finance, neuroeconomics, and Wall Street Journal readers who have successfully applied these virtues in their own investing lives.
Practical and easily applicable, The Seven Virtues of Great Investors is for anyone who wants to become better at investing. Along the way, cultivating these virtues just might help you become a better person, too.