Michael Batnick Looking in the Mirror

Mr.Batnick has mentioned that he has made each of the mistakes made by other well-known investors. He was not clear during his college studies regarding his career. Lastly, he completed his studies into the economics and got a job at a financial planning company for selling insurance. He has sold a policy to his family and not able to sell anything to others. During his job, his father introduces him with a financial advisor and Mr.Batnick has taken place his liking for the wall-street.

During the year 2011, Mr.Batnick has started trading ETFs which are 3x levered. He thought that he can create a fortune by trading. During that time, he got a temporary job and due to his job, though he is not able to stick to the computer, he started trading through options.

He was bearish on the Netflix so that he bought put option of Netflix before earning got announced. The stock fell by 35% and he earned 10 times of his original investment. He started reading on trading, technical analysis. He knows that he couldn’t beat the market but he keeps on doing the same because he does not know anything else.

During the year 2012, he got hired by Josh and Barry. And his journey got started.

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We all have made a mistake to think the stock market as a money printing machine where we put an order and machine make us billionaire sooner. We need to understand that this is not a machine but it’s a platform which facilitates us to make an investment into the various businesses. Businesses having a good time, bad time, best time, worst time as per our life. So that we need to give time to the business to grow, to prosper for creating wealth for every investor. It is just a platform, it does not have emotion, it drives through our emotions.

Everyone has made a mistake, the main difference between best investors and normal people is, best investors learn and grow from their mistakes but normal people do not, they keep their mistakes into their mind and bring them back to achieving the goal. If we want to grow then we need to learn from the mistakes and improve our way of doing things. If we keep on doing things in the same way then the result will remain as same as we have achieved during our mistake. Mistakes provide us an opportunity to change, learn and improve in the way we perform our job.

Read for more detail: Big Mistakes: The Best Investors and Their Worst Investments by Michael Batnick

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