A few years back I decided to semi retire and live in Guernsey, which by the way is a lovely place to live if you are a successful trader, I wasn’t a successful trader, but fancied the lifestyle. I can still remember the day as if it were yesterday. I was playing golf with my usual partner who happened to be a retired Stockbroker. I had a fantastic golf swing, which always worried the opposition until they saw where it landed. As my ball flew high and long and landed in the car park, my friend John said in his usual polite way, “your problem Ken is you have no discipline” to which I retorted in my usual northern way, “if I was disciplined John I probably couldn’t afford to play golf with you” and there you have it. To be a good investor one needs discipline of thought and action.

I practiced a lot, bought the best clubs, followed the latest Golf Guru but never reduced my handicap from 25. I was good to have as a partner because every few holes I made it, big style, but consistency wasn’t my thing. I gave it up when my wife said I came home more miserable than when I left, notice the word “more”.

January 2015 I decided to call it a day with my portfolio I didn’t like what was going on in the world and had just taken a big hit in oil and commodities, when I say big I mean I was down 30% on the year, no big deal but it still bruises the ego. I subscribed to Stockopedia in July 2014, but only bought two stocks as a result, they had very high stock ranks, I did no due diligence just spent the money, I would still have them but one deleted itself from the market with a load of cash and no borrowings, Chinese of course, Where were you Paul Scott when I needed you? The other was embroiled in a bribery case and has lost 60% so far. No discipline-- I thought I had found a short cut to easy money.

I have researched and subscribed to a lot of “How to beat the market programs”, but with most I can back test what is being proposed and go no further. Unfortunately I can’t back…

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