투자 공부 하는법(중요)

Investing Study Guide

Key Concepts: Investment study as understanding the world, time value, motivation for learning, goal setting for personal growth, predicting the future, learning from the past, understanding the present, and making predictions.

What is Investment Study?

The speaker defines "study" not as rote memorization, but as understanding a field, learning its mechanics, and developing problem-solving and prevention skills. This broadens one's perspective and is considered the best way to change one's life. It's easier to change how you see the world than to change the world itself.

Why Study? The Importance of Time

The speaker emphasizes the importance of time, stating that humans live for approximately 30,000 days. The speaker, born in 1992, has lived about 12,000 days. To make the most of the remaining time, studying is essential. As people age, time seems to pass faster because the brain records fewer new experiences. If daily life lacks novelty, it becomes a mere repetition of the present. To truly live each week, one must strive for new experiences daily. The speaker studies to live the remaining 18,000 days to the fullest.

Motivation for Investment Study

Continuous motivation is crucial for lifelong learning. It's important to define why you are studying. For example, if a student aims to earn a lot of money, they might not see the point of schoolwork. However, if they realize that earning money is a means to gain recognition, they might be motivated to study because good grades can lead to better opportunities and a higher income.

The speaker cannot define the reasons for investment study for everyone, but suggests reasons like wanting to earn more money, create additional income streams, avoid unknown risks, or simply because others are doing it. Once a clear reason is established, the speaker can help define the goals of investment study.

Setting Goals for Personal Growth

The primary purpose of setting investment study goals is the personal transformation achieved in the process. The ability to catch fish is more valuable than the fish itself. Becoming someone who can earn $1 million is more meaningful than simply having $1 million. The best goals are those that drive personal change. Setting goals that are too low eliminates the need and opportunity for growth.

The speaker's goal for investment study is to develop the ability to read future changes. The best investor is someone who accurately predicts future events. While perfectly predicting the future is impossible, even getting 1% closer to that ability can lead to significant investment success. Investment study, therefore, involves developing the ability to read global changes and future trends, encompassing finance, economics, technology, politics, diplomacy, and geopolitics.

Predicting future changes and verifying their occurrence is crucial. While the impact may not be immediately apparent, progress becomes noticeable over time.

Investment Study as Building Muscle

Investment study is similar to building muscle through exercise. Theoretical knowledge alone is insufficient; effort and time must be invested in direct experience. Experiencing market highs and lows, comparing personal emotions with market sentiment, and learning from hope and regret are essential for developing the mental fortitude and execution skills needed to navigate various situations.

Watching YouTube videos alone is not enough. One must make predictions, develop strategies, and execute and revise them. Confidence in one's own thinking is crucial, and reliance on others' predictions should be avoided. Ultimately, investment is a personal responsibility.

Three Pillars of Investment Study

The speaker outlines three key areas for developing future insight:

1. Studying Past Events: Understanding the context and patterns of past events. "Looking at the past reveals the future." Understanding why events occurred, both superficially and fundamentally, and whether they could have been predicted. Analyzing the interplay of political, economic, social, and climatic issues. Reading books is the best way to do this.
   • The speaker reads 30+ books per year, after reading 100 books in 2018.
   • Books condense patterns from past events and contain biographies of those who understood those patterns.
   • Reading broadly across genres, from classic literature to modern non-fiction and biographies, is recommended.
   • Classic literature often conveys messages through allegory due to historical constraints.
   • The speaker finds that reading books outside of investment is more helpful.
   • Recommended Investment Books:
     • Warren Buffett's Shareholder Letters
     • Peter Lynch's "One Up On Wall Street"
     • André Kostolany's "Money: The Hot and Cold"
     • The speaker's own book, "나는 투자로 30년을 벌었다" (I Earned 30 Years Through Investment)
2. Understanding the Present: Identifying current trends and the zeitgeist through news articles, public opinion, research papers, and YouTube videos. Identifying similarities between current events and past patterns. For example, analyzing the rise of US protectionism, low interest rates, and technological innovations like AI and quantum computing in relation to similar historical periods. Comparing the current situation in Korea with that of Japan to predict Korea's future.
   • A broad perspective is essential, including reading US media and engaging with insightful individuals from diverse backgrounds.
   • Learning from more successful investors accelerates the learning process.
   • While many crypto investors participate in numerous chat rooms, the speaker advises caution due to spam and noise.
   • Unless actively trading, excessive noise can hinder long-term investment. The speaker does not use Telegram.
3. Predicting the Future: Making direct predictions based on past patterns and current situations, then waiting to see if they materialize. If a prediction fails, analyze what was missed and how others predicted correctly. Continuously refine the prediction process.

Actionable Steps for Investment Study

The speaker suggests three goals for the year:

1. Read 30 books or at least three books per month.
2. Read newspapers and news diligently, including both domestic and international sources.
3. Make concrete predictions about near-future trends, such as changes in the NASDAQ market capitalization rankings or predictions for the next 1, 3, 5, or 10 years.

Conclusion

The speaker encourages viewers to share their goals for the year in the comments section. The speaker will revisit the comments in a year to see how well everyone has progressed. The main takeaway is that investment study is a continuous process of learning from the past, understanding the present, and predicting the future, requiring active participation and critical thinking.