There are two words jousting in my mind: leadership and courage. I use "jousting" deliberately. Leadership and courage should go hand in hand, but more often than not, they compete against one another. And courage rarely wins out.
Jason Voss, CFA, provides a primer on open-monitoring meditation, along with a sample practice, in the latest edition of his Meditation Tips for Investment Professionals series.
Meditation is a mind practice that helps develop two skills that are critical for investors, says Jason Voss, CFA: metacognition, or the awareness of awareness itself; and top-down control, choosing what to think and when to think it. Why do we need these skills? Because as investors we must see the world for what it is, not what we prefer it to be. With that in mind, here are some tips to help you get started as a meditator.
Investment professionals make difficult decisions based on incomplete information. That is part of the job. But are we any good at it? And more importantly, do we achieve certainty when we make these tough decisions? The answer to the latter question — with great certainty — is no.
"It's very easy for many of us to feel out of control," said mindfulness expert Jeremy Hunter. "We live too much on gas pedal, too much on brake." But there is a way to get back to what Hunter calls our "zone of resilience — a capacity to be calm." The key to doing that is the practice of mindfulness.
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