You may have read a poem on many aspects of life, but have you read a poem on investing?
This poem was written by Don Weill in 1977, as a lament of all the investment opportunities he missed throughout his life.
Although he wrote this more than 40 years ago, it still applies today to many investors who have missed many bull runs and are still waiting for the right opportunities or the right market conditions.
This poem not only applies to the real estate industry, it also applies to all forms of investing, which have market cycles of highs and lows and they appreciate in value over time.
I hesitate to make a list, of all the countless deals I’ve missed;Bonanzas that were in my grip, I watched them through my fingers slip;The windfalls which I should have bought, were lost because I over thoughtI thought of this, I thought of that, I could have sworn I smelled a rat;And while I thought things over twice, another grabbed them at the price;
It seems I always hesitate, then make up my mind when it’s much too late;A very cautious man am I, and that is why I never buy;When Tucson was cheap desert land, I could’ve had a heap of sand;
When Phoenix was the place to buy, I thought the climate was much too dry;“Invest in Dallas – That’s the spot!” But my sixth sense warned me I should not.
The golden chances I had then, are lost and will not come again.Today I cannot be enticed, for in 1977 everything is so overpriced.
The deals of yesteryear are dead, the market’s soft and so’s my head.At times a teardrop drowns my eye, for the deals I had but did not buy;
And now life’s saddest words I pen, If only I’d invested then!
Lessons we can learn from this poem
- Indecision is the mother of procrastination : Over-thinking is good for crucial decisions like waging a war with another country, Brexit or US Trade war with China; but for less important decisions over thinking will certainly lead to procrastination and missed opportunities
- Don't be Skeptical always : It would be difficult to take advantage of any opportunity if you only look for the negatives in it . We should weigh the pros and cons with an open mindset and arrive at a decision without much delay
- Bring in an expert : When you are unable to make a decision about a certain important aspect of life, it would certainly help to get an unbiased & expert third party opinion.
- Learn From Past Mistakes : It is important to learn from the past mistakes and correct them, in this poem Weill is still unwilling to buy because he believes the market is still overpriced, despite the many opportunities he missed in the past.
Investing is a simple process of buying low and selling high, our emotions make it complicated. For beginners and even for expert investors, A Systematic Investment Plan(SIP) is the easiest way of accumulating and growing wealth.
What is a Systematic Investment Plan(SIP)?
A SIP or a Systematic Investment Plan which helps you decide in advance and invest a fixed sum of money at regular intervals in a market-linked instrument like a Mutual Fund, Share etc...
It takes out the unnecessary decision making and the emotions every time an investment is made.
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