Game of Thrones, HBO show of the decade, has finally ended. The fantasy series based on the books of George R.R. Martin has captivated audiences around the world for almost a decade, but now it's time to say goodbye. To commemorate the farewell, here are four lessons of Game of Thrones that you can apply if you invest (of course, spoilers for the entire series below):
1. Prepare for the unexpected
Game of Thrones was a master class in making unexpected moments. One of the most shocking was the performance of Ned Stark in the first season. The main character, many of whom believed that the show would continue to push forward, was suddenly executed, never to be seen again at the show.
Unexpected turns and bends are common on the market. A single tweet can drive the whole market higher or lower, and even when everything seems to be going well – there is always potential potential just around the corner.
Good risk management is a crucial aspect of a successful investor. If you do not invest too much, you can ensure that you are able to maintain a standard of living through market downtime. Diversification – not having a single dominant position – can also save your portfolio when something almost inevitably goes wrong.
2. Don't touch the heart after winning several times
In Game of Thrones you win or die. You usually die if we are honest. House Stark struck another tragedy when Rob decided in season three not to marry Walder Frey's daughter. His decision came after a few victories against the Lannisters, and his false sense of security was his downfall.
The markets offer us numerous opportunities to give us confidence in our trading opportunities. It is easy to get carried away too quickly after a few good transactions, only to lose everything when the stakes are highest.
Always be aware of your mental state when investing and make sure you strictly apply your investment thesis. By thinking carefully about every investment decision and trade, you can be sure that you will not end up as Rob Stark.
3. Everyone makes mistakes, lives to fight for another day
Many mistakes were made in the course of the 8 seasons. Tyrion & # 39; s decisions to send Jon across the wall or to believe that Cersei would send troops to the north were two of his biggest mistakes. Nevertheless, Tyrion ended the series as the king's right hand because he could always keep his calm, gather himself and escape any dangerous situation he found himself in.
No investor can remain error-free for a long time and everyone makes occasional bad decisions. Good investors keep a diary of investment decisions and can look back and understand why a certain investment has not come true. Learning to live with mistakes and to fight another day is another characteristic of successful investors.
4. Knowledge is power
Perhaps the most iconic quote from the series & # 39; knowledge is power & # 39; proved in the final, when Bran Stark was chosen as king by his landlords and ladies. The most important reason for Bran's crowning was his wisdom, because his three-man-ravening skills made him a living history book
Knowledge is incredibly important in investing, and there is a multitude of numbers, facts, and relationships that a person must know in order to invest successfully. By spending time learning to invest smartly, you get a better return on your investment than anything you ever spend time on. Acquiring the knowledge to help you navigate the markets wisely to achieve the desired results is perhaps the most important investment in Game of Thrones' investment lessons.
