So what am I doing about this? One thing I’m elevating is the timing of when I am meditating. Meditating daily is non-negotiable but this year, I am making it a point to meditate before making any trades. Meditating in the morning is definitely a great tool to calm my nerves and set me up well for the rest of my day. In addition to my morning meditation, I’m also making it a point to meditate before making an investment decision. It’ll give me more assurance that my trades are more logical, less emotional. The feeling of FOMO, those useless noises in my head that creep up when markets are going up or the feeling of despair when markets are crashing should be easier to face and understand.
Along those same lines, I found that starting the day positively really helps. I tried waking up at 5am to get ahead of the day, but I still struggle at making it a habit. So I’m not abandoning that altogether, simply shifting my wakeup time to a more reasonable hour. Rising up early followed by a 20 minute exercise leaves me with adrenaline coursing through my veins, everything seems clearer, and this carries me through the rest of the day.
Third realization. I need to narrow down the analysts I follow. A longer list adds noise that interrupts my thoughts so I’m reassessing my list. I’ve gained much more respect for Michael Burry- he makes sound decisions that are sometimes seemingly against the grain but he’s thorough, he’s grounded, he knows when to pivot, he’s got courage to do / say what may not have been done before. He called it right last year when he said the Fed wasn't doing enough to fight inflation. He got out of stocks and sat in cash while the market was crashing. And, his bearish call in Cathie Woods ETFs and in Tesla stock was spot on. He’s usually spot on about his forecasts. In my book, he’s a true badass with a consistent reputation of knowing his shit and delivering on what he says. I’m following him more closely this year. In summary, I’m prioritizing Burry, Buffett, and 5 star analysts on Tipranks. More to come on the other 5 star analysts.
With regards to my physical health. I made a resolution last year to lose 2 lbs a month. A couple months in and I was on a roll but like the stock market, my weight started to fluctuate wildly. A couple summer trips, Thanksgiving, and Christmas were the toughest when trying to stick to a disciplined diet In total I only lost about 5 lbs in 2022 but in reflection, I fit my clothes better than I ever have Perhaps I need to rethink the weight goal altogether (thanks Adam Grant) and I’m approaching it a bit differently. I fast 2 days a month, usually on a Monday and Thursday. I don’t see anyone outside my immediate family on those days so it’s easier to do. In addition to fasting, I write on the refrigerator door all the consequences of overeating (mental contrasting in application - thanks Carol Dweck!) Let’s see how this goes.
Outside of healthier eating habits, I also learned not to overdo exercises. I’m getting older and feel more prone to injury. At the beginning of 2022 I made a point to walk 5 miles a week. 5 miles became a jog and I quickly turned to 20 miles. After a couple months running 20 miles a week, I hurt my left foot and had to give it a rest. I’m still not fully recovered and am reluctant to start jogging again. I find healing is taking longer as I age so I’m taking heed. I do want to start jogging again but likely will minimize it to 10 miles a week vs my original 20.
2023, I’m ready for you.
