Here’s a dirty little secret about me: I love reading fiction.
I used to exclusively read fiction. Any kind of fiction really, but I prefer authors like Philip K. Dick, Stephen King, Jorge Luis Borges, Isaac Asimov – basically any good sci fi writer or master of the unknown or unknowable.
And while I’ve been a fan of Sherlock Holmes as a character, I never really read ANY of Sir Arthur Conan Doyle’s books.
This summer, I made it a goal of mine to read as many Sherlock Holmes books and stories as possible. I picked up Volume I of "The Complete Sherlock Holmes" for $7.95. And though I’m only about 1/4 the way through it, I’ll certainly finish this volume, if not this summer then shortly thereafter.
The problem is that I have loads of work-related reading to do – which is enjoyable it in its own way. I wouldn’t last long as a daily newsletter editor if I didn’t have a healthy appetite for reading financial news, earnings reports, mining results, etc.
But this work-related reading never ends. So I have to make room in my day to read for leisure. I have to go out of my way every day, and more often than not, I fall asleep with the book on my face. It’s tough – but the book is so good that it’s worth it.
And that’s the nature of any goal. The first step in achieving any goal is to step outside your normal routine – to do something different and new. They say that the major problem for most people is inertia. Getting started is always the hardest part.
If you were already on the path of achieving something, there’s no sense in calling it a goal. Very few people have the goal of doing the same thing every day. That’s not a goal – it’s existence.
So, I thought I’d turn the microscope around and take a gander at you – my reader – to see what goals you have as an investor.
If you don’t have a specific goal, I’d urge you to come up with one that fits your needs. Without a goal, it’s impossible to determine success or failure.
Your investment goal can be specific – as in a desire to triple your money in junior gold miners over the next 5 years – or it could be more general – as in a desire to protect some portion of your savings in the event of a continued dollar crisis.
Are you interested in investing in oil? Silver? Agriculture? Or do you just want a fresh perspective on a specific asset class?
Once you come up with your goal, you’ll be able to much more clearly pick investments appropriate for you and your portfolio. Your goal will help to focus all of your thoughts, and filter out all of the noise in the markets. You’ll be able to ignore most of what you hear, because you’ll immediately either recognize it as something pertinent to your goal, or you’ll be able to completely dismiss it.
You don’t have to tell me your goal – although you’re welcome to. But I’m more interested in answering questions related to how you might get there.
If you’re looking for a specific investment in a specific asset, or even a company you’re considering – please don’t hesitate to drop me a line at [email protected]
I try to answer all of the emails I get, and I definitely read them all. I receive dozens of emails a day, so it can be tough to respond to them individually, but if you have a question or a comment related to your investment goals, please send it my way and I’ll try to answer it in a future issue of the Resource Prospector, or I’ll respond directly to you via email.