Batting Practice.

"One common problem for investors is that they tend to swing too often."

The great Ted Williams is the only baseball player who had a .400 single-season hitting record in the last seven decades. (avg sits around .250)

He had the habit to choose the best pitches to hit and most importantly avoid the pitches he wasn’t confident in.

Ted’s success was the result of disciplined decision making in a sport that required almost instantaneous thinking.

And the same skills apply to making investment decisions.

But CNBC headlines and group chat banter drives novice investors to swing at low quality pitches.

This is a waste of effort and most importantly a waste of money.

Because when the time comes to swing at that nice, slow [undervalued] pitch, you wont be able to swing with the full weight of your money since you dumped it in a bunch of nonsense.

Want to learn more about investing — check out Seven Investing Axioms for some short tidbits on how to operate without losing too much money.

*This post was inspired by Poor Charlie’s Almanac. 

Charlie [Munger] is the Wilt Chamberlain of investing. One that you must know and respect.

Reply to this email if you’d like a free PDF of his book, or pay $60 on Amazon if you’d like.