Over two years ago I read a book by Fred Schwed Jr called Where Are The Customers' Yachts based on a recommendation by Warren Buffett.
It turned out to be not only a great book, but also a funny and easy read as well.
Fred was a stock broker before he transitioned to an author. He uses his investing experience through the booming 1920’s and then during the Great Depression where he lost almost all of his fortune to discuss some of the most important traits and emotions investors need to understand to successfully invest in the stock market.
Some of those traits and emotions are:
1. Greed
2. Risk Aversion
3. Fear
4. Patience
5. Overconfidence
6. Being Overwhelmed
7. Denial
I wrote an article for Seeking Alpha a week ago where I expanded on all of these using quotes from the book and some of my own experiences that I had in the markets so far.
Click the link below to read the article
https://seekingalpha.com/article/4142852-customers-yachts