Archive for July 3rd, 2008

“I am the greatest!” (The Financial Athlete #18)

July 3, 2008

Muhammad Ali famously bragged, “I am the greatest!” while his poetic slogan of “float like a butterfly and sting like a bee” characterized his fighting style.

Ali trained rigorously physically. He also trained mentally, constantly feeding his subconscious mind empowering thoughts of being the greatest champion. Without the physical training, all the mental training would only have gotten far in a dream world. Without the mental training, it’s doubtful he would he have progressed as far as he did with just intense physical training.

You’ve heard it said, “talk is cheap”. Don’t believe it if “talk” is backed by action. Ali’s illustrious career is a testament to this. He won an Olympic Gold Metal and became the Heavyweight Champion three times. To this day fans still fondly call him “the greatest”.

It’s obvious what I’ll say next…the ingredients for successful investing are action plus mental training (studying, drive, and visualizing being “the greatest” you can be). But which should come first, action or mental training? Mental training should come first. Study markets. Study the fundamentals. Study how the masters of investing think. Then create a blueprint to structure your investing strategies and techniques. Only after doing this are you ready for action which produces fruitful results.

“I am the greatest, I said that even before I knew I was.”
Muhammad Ali