Everyone probably knows Gladstone Glander. And if not, he is the character from Donald Duck who always has phenomenally good luck. Unlike Donald Duck. But is this kind of fabulous luck really true?
And how is it possible that some investors who have less knowledge but better luck than you get rich so quickly?
An investment decision done on a whim, a need for excitement or just based on a good feeling may have yielded this emotional investor huge returns compared to a reasonably built investment portfolio. But why? It doesn’t seem to make any sense.
And you’ve probably heard such spectacular stories yourself – how an average lucky person had invested in a cryptocurrency and reached incredible riches in just a couple years without any decent investment plan. These stories were still quite common back in 2017.
In the past years cryptocurrencies have provided one of the fastest and most profitable solutions on the investment markets. Multiplying one’s capital has been possible in just a few weeks without any further plans or wits. But at this point it’s good to remind that cryptocurrencies also carry a higher risk than most other investment targets. Therefore caution is not only advised but necessary.
Massive profits with split-second decisions
I have witnessed many such lucky examples, in which split-second decisions have ended up multiplying the invested capital. These decisions have been done with audacity and good feelings probably based on some higher intangible inspiration. And it has only taken a moment’s whim, after which a profitable investment decision has been made. And the whole process has only taken some seconds or at most a few minutes.
At times I have even witnessed cases in which the person intended to invest in some other instrument, but accidentally clicked on an instrument yielding even greater profits. After this the person has wondered where in the world those profits came from. Again, these accidental triumphs can simply not be explained by reason.
These same people have also often had incredibly great timing by buying at the bottom and then selling at the top. And yes, without any logical analysis or explanation. They may have done such decisions while intoxicated or simply to impress their dating companions. And sometimes they just happen to have some extra money when prices are low and a need for cash when prices are high, leading to this accidentally flawless timing.
Needless to say, I was speechless when witnessing these events. The luck of Gladstone Ganders on the investment markets is true. But it is hard to find a scientific or logical explanation to this, and perhaps we don’t need to. Logical thinking takes time and is often slow, which is why many skip this process and go directly to making decisions based on fleeting feelings.
It’s good to remember that all of us are not such natural Gladstone Ganders and masters of timing. Most of us will get burned badly if we try the same.
Not everyone has Gladstone Gander’s luck
As already stated, it’s good to remember that not everyone has this divine Gladstone Gander-like luck by birth. Most of us do not have any extra money when prices are down, nor do we necessarily have the opportunity to sell when prices are high.
And as what comes to intoxicated investment decisions, one can only imagine what kind of chaos this can lead to. Trying to impress others with your own divine decision-making skills can also be a doomed idea, since you are then focusing on pleasing others rather than more important goals. Instead it would be wiser to study the investment target fundamentally. Accidentally making a good investment is something that only applies to few individuals on rare occasions.
However, such a Gladstone Gander-like style of investing is an extremely fascinating idea for many, since it in theory enables fast riches without any deeper knowledge. Few investors are in reality interested in studying the target further than a brief googling. This is why many choose the easy and effortless highway of luck to riches as an investment strategy.
At this point we must once again remember that all of us are not Gladstone Ganders. Instead, our path reminds more of the rough and rocky road of the less fortunate Donald Duck. It’s also difficult to compare the competence of different investors, since one’s natural talents do not mean everyone would innately have such qualities. And if you don’t, there’s no reason to worry. Instead it’s better to focus on creating and deserving your own luck. This can be done by reading literature and practicing investing one trade at a time. This often requires a lot of time and effort, which may seem excessive to many after a long day of work.
Nonetheless, it is good to improve your own knowledge of the markets by studying the subject. If you spend a couple hours per week for this endeavor, it will pay itself back in the long run. And this is worthwhile, since copying the luck of Gladstone Ganders simply doesn’t work for most people. And how can you even copy something you can’t explain with reason?
Don’t compare yourself to others
As already mentioned, it’s pointless to compare yourself to others. What someone else may have earned through investing does not apply to you in any way. The phenomenal luck of some people is just a sum of many factors. It may be combination of a natural ability to make profitable choices, one’s own tolerance of risk as well as a good mental stability enabling these decisions. Some may think of these qualities as innate and see their ensuing wealth as a natural consequence. Others in turn may think wealth must be earned with hard work and reading. Not to mention all the factors science is currently unable to explain.
In conclusion, there’s no need to worry if profits to do not come to you as easily as to others. We all have our own path, so it’s useless to compare one’s own success to someone else. We are all different, as proven by Gladstone Ganders.
If you are a Gladstone Gander, good for you. But if not, you can still find your way to make profits. So there’s no reason to worry.
This article does not present any investment recommendations nor should it be interpreted as such. Gaining profits on the markets often requires deep-rooted knowledge and several years of experience.
Hopefully these tips were helpful in pursuing better profits. Good luck on the markets and enjoy your summer!
The writer is a board member of cryptocurrency organization Konsensus Ry and has years of experience in different investment fields, including cryptocurrencies.