Contrarian investing. It’s a term that may stir up images of investors who take unnecessary risks by pumping huge sums into an untested and unproven investment.
Contrarian investors are often mistaken for risk-takers. But that’s not the case. Most people never think about it, but Warren Buffett is also a contrarian investor.
What does contrarian investing even mean? And more importantly, how can you apply its principles to your own investment strategy?
I’ve been writing about the philosophy of Stoicism since 2015. A Stoic mindset has truly changed the way I do everything.
I apply Stoicism to my happiness, work, finances, and even relationships. This Stoic mindset allowed me to leverage ancient lessons into my entire life.
The other day I was talking about this change with a friend. He asked me:
“What does the Stoic mindset really mean?”
Let me explain.
Stoicism, an ancient Greek philosophy, is not just a guide for leading a virtuous and meaningful life; it can also be a roadmap to financial success.
People have endless discussions on Reddit about this topic. Somehow, the ideas of Stoicism and money don’t jive together in many people’s minds.
That always seemed odd to me. Nearly all the prominent Stoics were well off, from the founder, Zeno, to the most prolific writer of the bunch, Seneca. In fact, you can argue that Stoicism was for wealthy people at the time.
Think about it. If you weren’t well off, would you even have time to think about what you control versus what you don’t in Ancient Rome or Greece? This is why Stoicism is the perfect philosophy for today’s abundant world.
Most people tend to either overestimate or underestimate themselves. We hardly ever have a real picture of our abilities.
Think about it: How often have you seen someone (or even yourself) claim to be good or bad at one thing, only to find that their result shows otherwise?