“Play Your Own Game” is an article written by Morgan Housel. He emphasizes the importance of recognizing that investing is not a one-size-fits-all endeavor. Just as different sports have different objectives and require different skills, individuals have varying investment strategies, goals, and preferences.
Housel argues that treating investing as a single game with universal rules is flawed and leads to misunderstandings and unproductive debates. Investors should be less judgmental of others’ approaches and focus on defining their own game and sticking to it. The article advises readers to understand their unique objectives, risk tolerance, and desired outcomes and avoid being influenced by individuals playing different games. In essence, Housel encourages investors to be mindful of their own path and not feel compelled to conform to others’ strategies or expectations.
1. Judge less.
At least half the people doing things with money that you disagree with are playing a different game than you are. You probably look just as crazy in their eyes.
2. Figure out what game you’re playing, then play it (and only it).
So few investors do this. Maybe they have a vague idea of their game, but they haven’t clearly defined it. And when they don’t know what game they’re playing, they’re at risk of taking their cues and advice from people playing different games, which can lead to risks they didn’t intend and outcomes they didn’t imagine.
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