While seeking common key characteristics of sport “Greats” some words kept turning up repeatedly.
Vince Lombardi was quoted as saying,
“We’re going to relentlessly chase perfection. We won’t catch it, but if we constantly chase it, we’ll achieve excellence.”
As the Coach of the Green Bay Packers from 1959 – 1967 his teams’ win rate was huge. The teams’ signature was the power-sweep, an end run that everyone knew was coming but, when properly executed, couldn’t be stopped. Lombardi found a way to train his team on that play through repetitive drills while honing their collective talents to a crisp and effective execution.
Is there a lesson here for the serious investor/trader? You bet! First find your particular talent. Out-of-date management style is to point out the weakness of the direct-report, and then work with them to make improvements. A welcome revolution in management approach came around the turn of the century whereby progressive managers began to focus on the strengths of their direct-reports and help them minimize their weaknesses. Lombardi was ahead of the curve on this.
As an investor/trader many of us serve as our own coach. When we identify those investing activities we do especially well, applying drive for perfection and focus will put us on the path to excellence. Pay attention to those behaviors required of you when you are engaged in the act of investing/trading. Talent is any recurring pattern of thought, feeling, or behavior that can be productively applied. Are you inquisitive, competitive, disciplined, persistent, or responsible? All of these characteristics can be targeted behaviors within the realm of investing that, when applied, can achieve productive results.
Once you’ve identified the activity you are strong in, consider what there is about it that you find rewarding. You’ll find that an activity that you execute well will not only result in a productive end, but will also motivate you to do more of it.
It may boil down to one key question. “Do you want to be the jack-of-all-trades, or the master in one endeavor?” Find your unique talents and chase perfection to achieve excellence!
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