INSUBCONTINENT EXCLUSIVE:
By Saurabh MukherjeaMost of us spend our lives seeking approval of others
A few people, however, have the courage to do things which they know will invite criticism
It is proof that you are exercising your freedom and living in freedom, and a sign that you are living in accordance with your own
caste-bound semi-feudal society, most people attach great value to fitting in
So, you are not supposed to say or do things that make you stand out from the crowd
And you are certainly not supposed to do things which invite criticism or ridicule
Thus, it is hard to imagine an Indian fund manager doing what Warren Buffett did on February 25
However, he did not do that
He did not hide behind his cash pile
story of a conversation he had with Warren Buffett
Kaufman told Buffett he had a theory about why he was the greatest investor in the world
invaluable traitAs Housel puts it, each year the pool of people chasing returns in the market is becoming larger, brighter and better
So IQ and effort per se is not going to differentiate any one investor from the millions of other aspirants
done well over a long period of time can put his success into one or both of those buckets
And both require some degree of not caring about what happens.
A few things that help you get there.
Not caring about looking dumb when
dislikedIf being disliked can help us make money, why do so few fund managers have the courage to be disliked Why is consensus/benchmark
Their book The Courage to be Disliked (2013) is a philosophical discourse based on the work of Austrian psychologist, Alfred Adler
Everybody who makes decisions under pressure and with imperfect information should read this remarkable book, which has sold over three
Soon we are seeking the approval of our social set and our colleagues
By the time we are grown-up professionals, our happiness hinges around seeking the approval of others
where our happiness depends on the approval of others (eg
which are relationships between equals
People whose lives are characterised by more horizontal relationships than vertical relationships are more likely to have the courage to be
Why
Because in a vertical relationship your happiness hinges on the happiness of the person you are subservient to
As a result, you live for praise/approval from her
That, in turn, makes it very difficult for you to do anything that could invite disapproval or criticism from her
Those who see the world as largely consisting of relationships between equals are less likely to make the happiness of others a key driver
building even one vertical relationship with someone, before you even notice what is happening, you will be treating all your interpersonal
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