Passion is such a great thing to experience. There is nothing more uplifting than watching actors perform passionately, even if you have no idea what they are saying….
…. Listening to a speaker talk passionately about a subject can be quite a motivating experience, too.
But there is a fine line between being passionate and being unreasonable. Leaders of countries that can’t distinguish between the two can quickly lose popular support for what they passionately believe in.
Donald Trump was passionate about making America great again. But his passion, which now borders on obsession, seems to have damaged his ability to tell the difference between right and wrong. He has dismissed numerous people from his team who offer a different point of view. That is beyond the pale.
The UK prime minister Boris Johnson wants a better deal for the UK if and when it gets to leave the European Union. But he has taken things very personally, when people express a different opinion….
…. But firing long-standing members from his own Conservative Party just because they disagree with him is outside the bounds of acceptable behaviour.
Many of us are passionate about investing. But we mustn’t take things personally, though, if a share doesn’t perform the way we expect after we have bought it. How many times have we heard people say that the market has gone against them?
A share doesn’t know that we own it. The market has every right to disagree with us. As Benjamin Graham once said: “We are neither right nor wrong because the market agrees with us. We are right because our reasoning is right.”
So, focus on understanding the reasons why you have bought a share. If you get that important part of the investing process right, then things will work out in the long term, regardless of what the market might think in the short term.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.