The Inner Game with Vishal Khandelwal

Imagine you're at a crossroads, standing on the edge of a vast, uncharted territory. You have a map, but it's blank, waiting for you to fill in the details. Now, picture having a few wise mentors who have walked similar paths, guiding you with their wisdom. That sounds comforting, right? Today, in #TheInnerGame #podcast, I dive into this very idea of choosing the right heroes, inspired by a principle that Warren Buffett articulated beautifully, when he said that 'The best thing I did was to choose the right heroes.' * * * USEFUL RESOURCES: 1. Twitter: https://x.com/safalniveshak 2. Podcasts - a. The Inner Game - https://www.safalniveshak.com/the-inner-game/ b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/ 3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/ 4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/ 5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/ 6. Book Recommendations - a. The Essays of Warren Buffett - https://amzn.to/3L2Kgcz b. Poor Charlie's Almanack - https://amzn.to/3RIPwWk c. The Story of My Experiments With Truth - https://amzn.to/4cgCU1a d. The Complete Book of Yoga - https://amzn.to/45HirzW

George Baker once said something profound that Thomas Phelps quoted in his book "100 to 1 in the Stock Market" – To make money in stocks you must have "the vision to see them, the courage to buy them, and the patience to hold them." Of these, patience is the rarest and the hardest to master. But if you can cultivate this skill and practice it diligently, it pays off handsomely in the long run. I discuss this very idea in today's episode of #TheInnerGame #podcast.

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USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

6. What if You Only Invested at Market Peaks? https://awealthofcommonsense.com/2014/02/worlds-worst-market-timer/

7. Buy and Hold: Simple, NOT Easy - https://www.safalniveshak.com/buy-and-hold-simple-not-easy/

A common question I receive from a lot of investors is about how many stocks to own. In this episode of #TheInnerGame #podcast, I try to offer some insights from what I have learned from some great investors, and also from my personal investing experience.

In today's episode of #TheInnerGame #podcast, we explore the age-old question: "Is getting rich worth it?" We delve into the true value of financial wealth and its impact on happiness and fulfilment. Through stories and psychological insights, we examine the costs and sacrifices involved in the pursuit of riches. Don't forget to like, share, and subscribe for more insightful content.

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USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

6. Life 2.0: Is Getting Rich Worth It? - https://www.safalniveshak.com/life-2-0-is-getting-rich-worth-it/

7. What You Own, Owns You - https://interestuponinterest.com/2022/07/01/what-you-own-owns-you/

8. A fuck-you money attitude - https://signalvnoise.com/svn3/a-fuck-you-money-attitude/

9. ⁠The Psychology of Money - https://amzn.to/4binjge

10. The Happiness Curve: Why Life Gets Better After Midlife - https://amzn.to/3VWLr3D

11. What is Chasing You? https://microcapclub.com/what-is-chasing-you/

12. A Reminder to Focus on the Journey, Not the Destination - https://www.safalniveshak.com/journey-vs-destination/

13. History's Biggest Fraud - Sapiens - https://ethz.ch/content/dam/ethz/special-interest/usys/ites/ecosystem-management-dam/documents/EducationDOC/Readings_DOC/sapiens.pdf

Most of the times, it's not external factors like market crashes, economic slowdown, wars and recessions that hurt us in investing, but our own mis-behaviour. Over the next few episodes of #TheInnerGame #podcast, I will explain how some of our own thoughts, actions and decisions, often driven by good intentions, can lead us down the path of wealth destruction.

* * * USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

6. SageOne's Investor Memo Aug 2017 - https://sageoneinvestments.com/2017/08/

7. Market Timing Is the Enemy of Investment Success - https://firstascentam.com/forum_articles/market-timing-is-the-enemy-of-investment-success/

8. Timing the market vs time in the market: Which is better? - https://economictimes.indiatimes.com/markets/stocks/news/timing-the-market-vs-time-in-the-market-which-is-better/articleshow/99456136.cms

When we think about #stockmarket #investing, we often look at it like a game of picking winners. Just find the right stocks, and you're set for wealth creation and financial freedom, right? Well, that's only part of the story. I share the other, equally important, part in today's episode of #TheInnerGame #podcast.

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USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

I was recently reading my notebook where I collect thoughts and ideas from some good things I hear or read about in books and other places, and came across a passage from Haruki Murakami's book, "Kafka on the Shore." It is one of my favourite passages from all the books I have read, and while I was reading it one more time, I thought I would turn my thoughts into this episode of The Inner Game podcast. This is one of those passages that has always shaken something deep within me, and this time was no different. This passage speaks to the storms we all face—those intense, unavoidable challenges that seem to come out of nowhere and leave us questioning everything. USEFUL RESOURCES: 1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

I was at a friend's place recently, and since we are in a bull market, and against my wish, we got down to talk about investing. As I had expected, most of the discussion was around what the markets have done in recent times, and where they are likely to go after the new government gets down to work. I tried to move the conversation towards long term investing, but was pulled back again and again by things that worry people in the short term. And that led me to think about creating this episode of #TheInnerGame #podcast, where I talk about something a bit unconventional but immensely important – the few things you should not care about as an investor.

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USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

When we think about saving money, we usually consider the practical reasons. Like we save money to buy a house, to go on vacation, to ensure a comfortable retirement, or to have a cushion for emergencies. These are all excellent reasons, and they highlight the importance of taking care of our money and finances. But have we ever stopped to ask this question if there's more to saving money than just the financial benefits? Let's talk about the deeper meaning of saving money in today's episode of #TheInnerGame #podcast.

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USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

Today, I dive into a profound topic inspired by a recent speech from the tennis legend Roger Federer. During his commencement speech at Dartmouth College in the US, which I will link in the show notes, Federer highlighted two essential virtues: discipline and patience. Now, these are not just abstract concepts; they're talents that can shape our lives, our work, and our investments. Let's explore how these principles, when deeply understood and applied, can transform us over a period of time.

USEFUL RESOURCES:

1. Twitter: https://x.com/safalniveshak

2. Podcasts - a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

3. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

4. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

5. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

6. Roger Federer's speech at Dartmouth - https://youtu.be/pqWUuYTcG-o?feature=shared