Investing can be a challenging and sometimes frustrating experience, especially when there is a lack of information available about the investment you are considering. It is natural to want to know all the details before committing your hard-earned money to something, but it is important to remember the value of curiosity in your investing journey.
Why is knowledge cheap?
I’m talking here about knowing a piece of information, rather than the wisdom gained from years of study. Before the Web, getting facts about pretty much anything was a painstaking process. Yes I’m old enough! Since then, the cost of acquiring knowledge has dropped to near zero. having a whole load of “facts” about investing at your fingertips is something most of us now take for granted so it’s easy to get. But it’s not the size of your knowledge base that counts: it’s what you do with it!
The importance of Curiosity in investing
A saying I often like to remember is, “knowledge is cheap but curiosity is priceless.” Gone are the days when getting the information you need was a laborious process: now pretty much everything we could ever know is available via a few clicks. The challenge is knowing the questions to be asking and which just don’t matter. Avoid rabbit holes but stay persistent enough to ensure that the important questions are fully answered – with no brush-offs.
This is particularly true in the world of investing. While having a deep understanding of the investment you are considering is important, it is curiosity that drives you to seek out new information, ask questions, and explore alternative perspectives.
Benefits of being curious
Curiosity can help you identify risks and opportunities that may not be immediately apparent. It can inspire you to dig deeper and uncover information that others may have overlooked. It can also help you think creatively about your investment strategy and explore new approaches to building your portfolio.
The evolving field of investing
Investing is a constantly evolving field. New technologies, changing market conditions, and emerging trends can all impact the value of your investments. By embracing your curiosity, you can stay ahead of the curve and adapt to these changes as they arise.
Building stronger relationships
Furthermore, curiosity can help you build stronger relationships with the people and companies you invest in. By taking a deeper interest in their businesses and understanding their motivations and strategies, you can develop a more nuanced understanding of their operations and make more informed investment decisions.
Cultivating curiosity in investing
So, how can you cultivate curiosity in your investing journey? Start by asking questions persistently and most of all, get over the fear some of us have had from childhood of “asking a silly question”. Attend industry events, read investment news and blogs, and engage in online communities focused on investing – just be careful not to fall down any rabbit holes.
In a Nutshell
Investing requires a balance of knowledge and curiosity. While knowledge is certainly important, it is curiosity that drives innovation, learning, creativity, and meaningful connections with others. Embracing your curiosity in your investing journey can lead to new opportunities and a deeper understanding of the investment landscape. Curiosity and a questioning mind helps us get the the real facts about an investment proposition
