The mind of the strategist

While books that promote the concept of the mind of the strategist are nearly useless I’m going to review anything that may relate to engaging productively in the investment markets: Avoid perfectionism: mistakes are a necessary part of the game, winning and losing cannot be separated, the most you can do is plan for loss and takes steps to limit it. 

Challenge constraints: make the problem less formidable. How would you solve the problem if you had the freedom to do anything you wanted? Avoid timidity: details have a shelf life; clear solutions are not always available. After analysis and creative thinking, choose a basic course of action and forge ahead. 

Focus on the one thing that means something: even if banking matters can be complicated, the direct factor on success is simple: amass money cheaply and lend it out at a rate as high as possible. If you separate winners from losers you can distinguish the elements of each product in the marketplace or an investment and determine why one group or method has emerged as winners. Whether the key difference is in distribution, design, technology, sales, product variety, servicing, raw-materials acquisition, or something else, it is important to know which makes a meaningful difference and to pick the one or two that can use additional resources to establish a winning platform.

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