When we talk about virtues, we can typically conjure up images of high moral excellence and having good values.
But what about the virtues of investing? For investors, there are plenty of reasons to invest in stocks or other assets. To grow wealth, to provide for our families and loved ones, and to enrich the lives of those around us. So is that what it means to be a virtuous investor?
Many of you have heard about the seven virtues from Christianity, which are foils to the seven deadly sins. If you want to be a virtuous investor you can consider virtues like humility, charity, and diligence as ways to model your investing style. In the end, a lot of the virtues of investing revolve around being patient and following a system that will help you achieve your investing goals.
Being a long-term investor can be a challenge and many of us are feeling that during this bear market. But remember the old saying: “time in the market beats timing the market”. So when times get tough, and they will, always think back to the seven virtues that can help you become a more patient investor.
What are the Seven Virtues of Investing?
To be clear, the seven virtues of human behaviour are as follows: prudence, diligence, patience, courage, faith, humility, and charity. I don’t know about you but I can definitely see how some of these can be tied into investing. I already mentioned humility, charity, and diligence, but I know that investors can relate to all of these in some manner.
In general, these virtues are meant to lead you to become a better person in life. But can they provide you with a path to success as an investor? I always preach the power of long-term investing if you have the time and patience for it. Patience, faith, and prudence can all be applied to holding on to your investments for the long term.
Having faith in your investments is important but so is doing your due diligence. You might be saying that growing your wealth or making profits isn’t exactly a virtuous way of life.
Let’s also remember that these virtues were established thousands of years ago and today we all need to pay the bills and invest for our retirement!Start Investing Better Today
How can the Virtues of Investing Help Me?
When it comes to systems and investing communities that have helped me over the years, none can come close to Motley Fool’s Stock Advisor Canada service. I know, it’s a paid service, but even the Financial Geek needs some advice for his investments. I just don’t have the time to be researching every stock or ETF that trades in Canada or the United States!
So why do I like the Motley Fool’s Stock Advisor Canada service?
First of all, it has a proven track record. During the last decade, the portfolio has doubled the S&P/TSX Index in performance. In that time, Stock Advisor Canada has recommended 40 different stocks that have seen more than 100% returns. You might think Stock Advisor Canada only tracks the TSX but the service will find you American stocks as well.
The best part is, you can try out Stock Advisor Canada and get a full refund if you aren’t satisfied within 30 days. I don’t know about you but that tells me they are confident in the stocks they recommend. You also get access to the Motley Fool Canada online community, the two new stock picks every month, and access to Motley Fool’s investment articles and resources.
Can Stock Advisor Canada Help with the Virtues of Investing?
Of course! If there is one thing that the Financial Geek and Motley Fool are aligned on it’s long-term investing. If you have ever listened to Tom or David Gardner talking about investing their mantra is: buy good companies and hold them forever. I know I have learned a lot over the years from Motley Fool’s articles and podcasts which are all free if you want to see what the company is about!
Investing in Stock Advisor Canada will help you learn to have patience with your investments. Some of the gems they uncovered have taken years to yield their exponential gains. But imagine getting into stocks like Shopify, Mercadolibre, or Veeva Systems when they were trading for just a few dollars per share.
These are just three of Stock Advisor Canada’s top picks that have helped over 50,000 Canadian members grow their wealth.
So what is your goal from investing? Is it to improve the life of you and your family? Set yourself up for retirement? Travel the world?
Whatever it may be a service like Stock Advisor Canada can help you reach that goal. If you want to learn to be a patient investor that does their diligence and has faith in your investments for the long term, then you will fit right in with the Motley Fool Canada community!
The Bottom Line: Stock Advisor Canada and the Virtues of Investing
I don’t usually like to preach about paid services, but Stock Advisor Canada is one that truly did help me with my investing. You do not need to follow their recommendations each month, but using the service can help you become a better long-term investor.
When you do grow your wealth, you can do what you want with it, but remember that charity and humility are also virtues that many of us do not think about when we make some gains on an investment.
Invest to improve your life but also improve to better yourself as a person!