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Game of Thrones, the show of the HBO decade, is finally over. The fantastic series based on George R.R. Martin's books has fascinated audiences around the world for nearly a decade, but now is the time to say goodbye. To commemorate the farewells, here are four Game of Thrones lessons that you can apply when you invest (obviously, spoilers for the entire series below):
1. Get ready for the unexpected
Game of Thrones was a master clbad in creating unexpected moments. One of the most shocking was the execution of Ned Stark in the first season. The main character, who many thought he would continue to advance the series, was suddenly executed, never to be seen in the series again.
Unexpected twists are common on the market. A single tweet can drive up or down the market as a whole, and even when everything seems to be going well – bad news is potentially an imminent wait.
Good risk management is an essential aspect of success as an investor. Not being too invested can help you maintain a satisfactory standard of living despite the downturn in the market. Diversification – not having a major dominant position – can also save your wallet when something inevitably goes wrong.
2. Do not be happy after some victories
In Game of Thrones, you win or die. You die especially if we are honest. Another tragedy hit House Stark when, in the third season, Rob decided not to marry Walder Frey's daughter. His decision was made after some victories against the Lannisters and his false sense of security was his loss.
Markets offer us many opportunities to feel confident in our trading capabilities. It is easy to race too fast after a few good deals, but to lose everything when the stakes are high.
Always consider your mental state when investing, and be sure to strictly apply your investment thesis. By thinking carefully about each investment decision and transaction, you make sure you do not end up like Rob Stark.
3. Everyone makes mistakes, live to fight another day
During the 8 seasons, many mistakes were made. Tyrion's decision to send Jon to capture a garment beyond the wall or to believe that Cersei would send troops into the north were two of his biggest mistakes. Nevertheless, Tyrion ended the series as the king's right hand because he always managed to keep his cool, to recover and escape from any dangerous situation in which he was.
No investor can remain error-free for long, and everyone makes bad decisions now and again. Good investors keep a log of investment decisions and can look back and understand why some investment has failed. Learning to live with mistakes and living to fight another day is another characteristic trait of successful investors.
4. Knowledge Is Power
Perhaps the most iconic quote from the series, "Knowledge is power", proved true in the finale, when Bran Stark was elected king by his peers, lords and ladies . The main reason for crowned Bran was his wisdom, as his three-eyed raven abilities turned him into a living history book.
Knowledge is extremely important when investing and there is a multitude of numbers, facts and ratios per person. must be familiar with in order to invest successfully. Spending time learning to invest smartly will give you a better return on investment than anything you will ever spend. Gaining the knowledge to help you navigate markets wisely to achieve the results you want is perhaps the most important investment lesson in Game of Thrones.
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