Are you Gritty?

Passion, Curiosity, Grit and Resiliency are the keys to success in the 21st century. I recently attended a conference and one of the keynote speakers was Angela Duckworth.  She is the author of Grit: The power of passion and perseverance.  So as the kids go back to school, I hope these notes and resources will help you to be a better investor, business person, parent or grandparent. It is easy to be a good investor in a bull market.  Investing seems easy.  It is fun, exciting and you are making money.  It does not require Grit and Resiliency.  Fear not. One day, markets will be volatile again, we will have a recession and portfolios will lose money.  Then, you will get a chance to use your Grit and Resiliency!  Successful investing is about Philosophy, Strategy, Process, Discipline and Grit! Grit = Mental toughness & courage, perseverance, courage & resolve, determination, strength of character, tendency to pursue long-term goals, tenacity Resiliency = to spring back or rebound, recover quickly from difficult conditions, optimistic, recover from misfortune, strength to recover Growth mindset = intelligence is a quality that can be changed and developed (it is not a fixed trait).  Focus on the effort and the struggle!  Reward the effort!  Don’t tell kids that they are “smart”, tell them that you noticed that they worked hard! Skill = Talent x Effort Achievement = Skill x Effort Notice that to get ahead in life, effort is very important.  It counts in both skill and achievement!  That is why Grit, Resiliency and a Growth Mindset are so important today.  Take the survey below and enjoy the resources. Do you think you are Gritty?  Take Angela’s short survey Are you Mentally Tough? via Scientific American Here is a summary pdf of Grit by Angela Duckworth – GRIT-BY-ANGELA-DUCKWORTH-BOOK-SUMMARY-PDF Here is a summary pdf of Mindset by Carol Dweck – Mindset-by-Carol-Dweck-Book-Summary-and-PDF Here are the 10 secrets to success from Investors Business Daily –

• 10 Steps to Become a Better Investor
• Q2 Mix tape
• Are you ready for a fire drill?
• Risk Happens Fast!
• Keep Calm or Freak Out?
• The Pledge Most Advisors Won’t Sign!

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