Bryan 's Take: Success Without Personal Development? Troy's Take: Commodities

Bryan's Take: Why it’s impossible to be a successful long term investor without becoming personally developed along the way.

How you think about money directly affects your performance in stock market as well as in life. We’ve all heard the stories of people who won the lottery and within a short period of time have lost all their money. In fact, statistically this is the norm. We’ve also heard the opposite story about millionaires who lost their money and within a reasonable period of time made it all back, and then some. This is because each one of us has a “money blueprint”, if you will, that goes back to what we were taught about money when we were young. When we come of age, each one of us has the power to change this blueprint and to expand it at the same rate we expand our thinking.

A perfect example: Isn’t it interesting that people who live paycheck to paycheck always have just enough money to make it till the next payday? This is not an accident.
In the same way, if you think you can make riches in stock market, and you have yet to change your blueprint from a middle class or poverty mindset to a rich one, you are severely deluding yourself. Since the decisions you make affect what your eventual return will be, this makes perfect sense. After all, isn’t it the decisions we have made in life that have gotten us to where we are today? And aren’t all of our decisions based on who are at the particular moment we make them? After all, if a person finds themself homeless one day it is because he or she has made a series of bad decisions internally which are reflected now in their lives externally. The adverse is also true. Therefore, if you expect to gain riches in the stock market, but you have not grown mentally to be able to house the types of ideas and thinking of someone ready to receive the money and keep it, ask yourself two questions:

Who makes the buying decisions for the stocks you purchase?

Answer: YOU DO

Who makes the selling decisions for the stocks you sell?

Answer: YOU DO

Isn’t it apparent then, that since your success in stocks is wholly dependent on making the decisions a rich person would make, that you need to learn to think this way in order to have success? Now, here's the million dollar question: If you make the stock buying decisions a poor person would make, what do you think you will continue to be?

Troy's Take:

From a Commodities perspective gold & silver have consolidated and they both appear to be trending back up again. Silver, several weeks back, was at about $27.00/oz (because that's when I bought some more) and now its about $32.00. Gold has, for several weeks, corrected to the $1560 range and now its back up around the $1650's. I'm still paying lots of attention to whats going on in the Euro. When Europe gets their finances together (one way or another) I believe that the idea that the US dollar - as a safe haven - will have run its course. I think you may start seeing another flight from the dollar.   Which is usually bullish for the precious metals.