losing, requires a great deal of persistence. An average investor lacks persistence and that is why he remains average forever. He normally jumps from one strategy to another and is always looking for the next hot tip.
Learn from past mistakes
A successful investor does make mistakes, but he learns from them. You can never become successful without making some miscalculation. An average investor would perceive mistakes as bad, but a successful one sees mistakes as an opportunity to learn something new.
Passion of investing
Be passionate about investing. An average investor is always after how much he is going to make now, but a successful one uses delayed gratification and compounding to gain an edge. A famous author once said if you are going to play a game, choose one that you can play throughout your lifetime with passion. Investing is one such game.
P Saravanan is associate professor of finance and accounting at IIM Shillong