Posted By: Admin
I believe Passion is an important characteristic necessary for Success. I also believe passion is equally an important ingredient in Failure. Wow, now that’s confusing…
Let me explain, passion is the driving force that gets you started, it is the initial push that gets you going and keeps you moving towards the target that you wish for yourself. Passion makes you dedicate your time and energies and keep focused at your task in order to achieve the goal.
But passion can also blind you from seeing changes that you would have otherwise noticed in the environment that would impact your outcome. Passion is like blinding a horse, it many times prevents you from seeing dangers and issues that you need to pivot from in order to succeed in reaching your goal.
“A young basketball player named Lewis Alcindor Jr, who won three national Basketball Championships with John Wooden at UCLA, used one word to describe the style of his famous coach : “dispassionate”, as in not passionate. Coach Wooden wasn’t about rah-rah speeches or inspiration. He saw those extra emotions as a burden. Instead his philosophy was about being in control and doing your job and never being “ passion’s slave”. The player who learnt this lesson from Wooden would later change his name to the one you remember better, Kareem Abdul-Jabbar. John Wooden himself won ten titles in twelve years including seven in a row, because he developed a system for winning and worked with his player to follow it ` ``.( Excerpt from Ego is the enemy, Ryan Holiday).
In the world of investing too, we get too passionate about the individual stocks or mutual funds and forget that our goal is not the stock but certain wealth that we want to create to cater to some life goal such as a retirement need or children’s education etc. So while it is important to be passionate about your goal, it is also important to follow a dispassionate process of how you will manage your individual holdings such that you will buy more or sell your specific stocks at various points in time as per the opportunities present in the market.
So the trick is to combine Passion & Dis passion intermittently so that you achieve your best outcome.
By Babu Krishnamoorthy, Chief Sherpa