by jason apollo voss - cfa institute archive/2012... · the universe –and not only once, but an...

by Jason Apollo Voss

OverviewOverview�� About meAbout me

�� What is investing really?What is investing really?

�� There is no such thing as a future factThere is no such thing as a future fact

�� Currencies of the two brain halvesCurrencies of the two brain halves

�� Emotions Emotions ≠≠ feelingsfeelings

�� Intuitive Investor PrinciplesIntuitive Investor Principles

�� How to access your right brainHow to access your right brain’’s strengths at wills strengths at will

© Asoapovo Productions, Inc.

About MeAbout Me�� EducationEducation

�� University of Colorado BA and MBAUniversity of Colorado BA and MBA

�� CFACFA

�� InvestorInvestor�� Research AnalystResearch Analyst

�� Portfolio ManagerPortfolio Manager

�� AuthorAuthor�� The Intuitive Investor: The Intuitive Investor: A Radical Guide for Manifesting WealthA Radical Guide for Manifesting Wealth

�� ““What My Intuition Tells Me NowWhat My Intuition Tells Me Now”” blogblog

�� Articles: Journal of Private Equity, Seeking Alpha, etc.Articles: Journal of Private Equity, Seeking Alpha, etc.

�� CFA Institute Content Director: Fixed Income, Behavioral CFA Institute Content Director: Fixed Income, Behavioral Finance, Quantitative Methods and Corporate FinanceFinance, Quantitative Methods and Corporate Finance


What is Investing Really?What is Investing Really?�� Simply putSimply put……

……to make a decisionto make a decision

�� Primary investment challenge isPrimary investment challenge is……

……understanding informationunderstanding information


There is No Such ThingThere is No Such Thing

As a Future FactAs a Future Fact�� But investing unfolds in the futureBut investing unfolds in the future

�� Investing is as much a soft skill as it is a hard skillInvesting is as much a soft skill as it is a hard skill

�� Why donWhy don’’t people talk about this stuff?t people talk about this stuff?


Currencies of the Left BrainCurrencies of the Left Brain

NumbersNumbers

&&

WordsWords


Currency of the Right BrainCurrency of the Right Brain

FeelingsFeelings


Emotions Emotions ≠≠ FeelingsFeelings�� Any guess as to the difference?Any guess as to the difference?

�� Emotions are feelings colored by preference and prejudiceEmotions are feelings colored by preference and prejudice


Another Quick Exercise:Another Quick Exercise:

TTemperature of the Roomemperature of the Room


“…“…Many Worlds in OneMany Worlds in One, describes a new , describes a new

cosmological theory that says that every possible cosmological theory that says that every possible

chain of events, no matter how bizarre or chain of events, no matter how bizarre or

improbable, has actually happened somewhere in improbable, has actually happened somewhere in

the universe the universe –– and not only once, but an infinite and not only once, but an infinite

number of times!number of times!”” –– Dr. Alexander Vilenkin, Professor of Physics and Dr. Alexander Vilenkin, Professor of Physics and Director of the Director of the Institute of CosmologyInstitute of Cosmology at Tufts Universityat Tufts University


Principle I: Principle I: InfinityInfinity�� The universe is infiniteThe universe is infinite

�� Addresses the Addresses the ““informationinformation”” half of half of ““understanding understanding

informationinformation””

�� Implications:Implications:

�� All things are possibleAll things are possible

�� That you and I are all a part of itThat you and I are all a part of it

�� That everything is interconnectedThat everything is interconnected

�� Operative words:Operative words:

�� Possibilities/boundaryPossibilities/boundary--lessless

�� InterconnectednessInterconnectedness© Asoapovo Productions, Inc.

Principle I: Principle I: InfinityInfinity�� Skills associated with:Skills associated with:

�� The Gift of IgnoranceThe Gift of Ignorance

�� The Gift of FearThe Gift of Fear


““The worldview that has emerged from the new The worldview that has emerged from the new

developments [in cosmology are] nothing short of developments [in cosmology are] nothing short of

astonishingastonishing……That worldview combines, in That worldview combines, in

surprising ways, some seemingly contradictory surprising ways, some seemingly contradictory

features: the universe is both infinite and finite, features: the universe is both infinite and finite,

evolving and stationary, eternal and yet with a evolving and stationary, eternal and yet with a

beginning.beginning.”” –– Dr. Alexander Vilenkin, Professor of Physics and Director Dr. Alexander Vilenkin, Professor of Physics and Director of the of the Institute of CosmologyInstitute of Cosmology at Tufts Universityat Tufts University


Principle II: Principle II: ParadoxParadox�� The secret to understanding the universe is accepting paradoxThe secret to understanding the universe is accepting paradox

�� Addresses the Addresses the ““understandingunderstanding”” half of half of ““understanding understanding

informationinformation””


�� Complements not opposites reignComplements not opposites reign


�� DistinctionsDistinctions

�� ProbabilitiesProbabilities


Principle II: Principle II: ParadoxParadox�� Skills associated with:Skills associated with:

�� ContextsContexts

�� ScaleScale

�� ContinuumsContinuums


““When we observe the worldWhen we observe the world……we do so on a much we do so on a much

deeper level than the sticks and stones world deeper level than the sticks and stones world ‘‘out there.out there.’’

Our brain primarily talks to itself and the rest of the body Our brain primarily talks to itself and the rest of the body

not with words or images, or even bits or chemical not with words or images, or even bits or chemical

impulses, but in the language of wave interference: the impulses, but in the language of wave interference: the

language of phase, amplitude and frequency language of phase, amplitude and frequency –– the the

‘‘spectral domain.spectral domain.’’ We perceive an object by We perceive an object by ‘‘resonatingresonating’’

with it, getting with it, getting ‘‘in synchin synch’’ with it. To know the world is with it. To know the world is

literally to be on its wavelength.literally to be on its wavelength.”” –– Lynne McTaggart, Lynne McTaggart, The Field: the The Field: the Quest for the Secret Force of the UniverseQuest for the Secret Force of the Universe


Principle III: Principle III: HarmonizingHarmonizing�� The secret to increasing your personal power is to harmonize witThe secret to increasing your personal power is to harmonize with what h what

you want to understand or embody and then you become ityou want to understand or embody and then you become it

�� Addresses both halves of Addresses both halves of ““understanding informationunderstanding information””


�� To understand something you must be in accord with itTo understand something you must be in accord with it

�� Consciousness of who you are is essentialConsciousness of who you are is essential


�� SynchronizationSynchronization

�� SurrenderSurrender


Principle III: Principle III: HarmonizingHarmonizing�� Seven Essential Investor Attitudes:Seven Essential Investor Attitudes:

�� Focus on risks before opportunitiesFocus on risks before opportunities

�� Gain comfort with uncertaintyGain comfort with uncertainty

�� A good decision is most often >= the A good decision is most often >= the ““bestbest”” decisiondecision

�� Forgive yourself for not being perfectForgive yourself for not being perfect

�� You are holding investment interviewsYou are holding investment interviews

�� Why does it have to be this one?Why does it have to be this one?

�� Beware of false prophetsBeware of false prophets


““Do you want to know who you are? DonDo you want to know who you are? Don’’t ask. t ask.

Act! Action will delineate and define you.Act! Action will delineate and define you.”” –– Thomas Thomas JeffersonJefferson


Principle IV: Principle IV: ActionAction�� Effects follow causesEffects follow causes

�� Implication:Implication:

�� Choice requires consciousnessChoice requires consciousness


�� ChoiceChoice

�� ResponsibilityResponsibility


Principle IV: Principle IV: ActionAction�� Seven Essential Investor Behaviors:Seven Essential Investor Behaviors:

�� Choose responsibilityChoose responsibility

�� HonestyHonesty

�� Balance intelligence and wisdomBalance intelligence and wisdom

�� Judge, but donJudge, but don’’t prejudget prejudge

�� CourageCourage

�� ConvictionConviction

�� There is a whyThere is a why


How to access your right brain at How to access your right brain at

willwill�� MeditationMeditation

�� Everyone is a meditator they just donEveryone is a meditator they just don’’t know itt know it

�� Want proof? Just do what you already do.Want proof? Just do what you already do.

�� It is the four principles worked in reverseIt is the four principles worked in reverse

�� Remember aweRemember awe


ApplicationsApplications�� Devon EnergyDevon Energy

�� AESAES

�� Calling the 9 March 2009 market lowCalling the 9 March 2009 market low


Your questionsYour questions


by jason apollo voss - cfa institute archive/2012... · the universe –and not only once, but an...

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