Personality goes a long way…to becoming a better investorOct 08, 2019
When it comes to investing the dominant line of thought is that most people are cool, rational investors, and markets move accordingly.
In the real world, we all have our own underlying motivations and fears, and we tend to make irrational decisions that reflect our own personalities, emotions, and biases.
The Enneagram assessments holds that there are broadly 9 differently personality types.
Most often the folks interested in our programs are the types 3 (achiever), 5 (analyser or thinker), and 7 (adventurer/enthusiast).
Type 3, ACHIEVER – achievers fear being worthless and like to feel valued, and as such they’re driven to go on and achieve bigger and better things.
Highly motivated and keen to take action, but may be prone to impatience.
Type 5, THINKER/ANALYSER – may have an underling insecurity about money, and having a desire to feel competent tend to seek more knowledge.
Tend to be introverted, but prone to over-thinking or analysing situations, and sometimes reluctant to seek advice.
Type 7, ADVENTURER/ENTHUSIAST – fear pain or being deprived, and are motivated by freedom from the shackles of being told what to do.
With a basic desire to feel satisfied, type 7s are more optimistic, spontaneous, and extroverted.
Type 7s needs to be wary of spreading themselves too thin and thus becoming ineffective; should also be cautious about being panicked into taking action instead of taking a calm and more rational approach.
Of course we don’t all fit snugly into one personality type, but once you have an understanding of who you are then we have an investment map that you can follow to make you a better investor.
I discussed this a little further in the short video here
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