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Second-Level Thinking: What Is It And Why You Need It

Second-Level Thinking: What Is It And Why You Need It

Understanding the numbers is just one part of investing. To be a successful long-term investor, you need not only understand the numbers but also the psychological traits required to be able to capitalise on your analysis. Personally, I believe that understanding psychological drawbacks/benefits of investing is more important than being a numbers person. If you can’t control your emotions, no matter how much work you put into researching an opportunity, it will all be for nothing. Howard Marks, the CEO, and founder…

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