You can learn a thing or two from the lasting wisdom of the world's greatest generals.
Duty, honor, integrity, and, believe it or not, investment strategies.
We've put together a list of 13 brilliant insights from military leaders that are just as relevant to investors as they are to soldiers.
After all, there's nothing more important than character and brains.
Be wary of the day-to-day noise, and focus on the long term and big picture.
Gen. Omar Bradley
"It is time that we steered by the stars, not by the lights of each passing ship."
There's a lot of noise when it comes to the markets — whether the daily chatter of Finance Twitter, the talking heads on business television, or the high-frequency sell-side research notes. But that doesn't mean you have to listen to all the hysteria. And as Benjamin Graham noted, "It is absurd to think that the general public can ever make money out of market forecasts."
Source: The Intelligent Investor, An Inconvenient Truth: The Planetary Emergency of Global Warming and What We Can Do About It
Don't forget to reallocate your portfolio with time.
Napoleon
"One must change one's tactics every 10 years if one wishes to maintain one's superiority."
As you get older, it's important to change up your portfolio. For example, many recommend that as people get closer to retirement, they should gradually shift into bonds.
Source: Words from the Wise
Take the time to do your homework.
Gen. George S. Patton
"Take calculated risks. That is quite different from being rash."
"We're all just guessing, but some of us have fancier math," Josh Brown once tweeted. As Peter Lynch noted, however, "investing without research is like playing stud poker and never looking at the cards."
Source: Executive Economics: Ten Tools for Business Decision Makers, One Up On Wall Street
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