Igor Cornelsen was asked what an important factor is for success and he named information as an important factor. As a matter of fact, he would tell his younger self to get tons of information before he makes his decision on whether to invest or not. One very important thing for young investors to do is discern between information and opinion. In a fast-paced information era, this can be confused. Often times, people are given headlines which they use to draw their conclusion. The only thing is that the headlines are often misleading. Therefore, people have to learn how to read and take in the context of what is being said.
When people take things out of context, this often results in them making some bad choices when investing. Igor Cornelsen urges young managers to avoid this mistake. Getting accurate information is very important. For instance, instead of taking in someone’s opinion on what was said in an interview, it is important for people to look at the interview themselves to see what they get out of it. Often times, people are quoted as saying something that they actually did not say. This doesn’t stop them from facing the consequences as if they had said this very thing.
Another important piece of advice that Igor Cornelsen gives is that it is important to look at the whole picture as opposed to little pieces. One of the reasons that the big picture is important is that this can save people from some avoidable pitfalls. When people look at a small tidbit and draw their conclusions, they often find that they have drawn the wrong conclusions and taken the wrong actions.
While investing does seem very simple, there is a lot that goes into investing. For one thing, they have to learn about the assets that they are thinking about investing in. If they blindly make investments, then their results are going to be random. It is a better idea for people to make sure that they are informed about what they are investing in. This will speed up the process of success.