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Fun Annual Exercise


Gregmal
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Something I do, trying to capture and detail many different things of use to me both from an investing standpoint, and a life perspective, is document or remember how things happen and how I respond to them. One of the neatest is the Annual Letter to myself. We all love reading the Buffett Letters, as well as probably quarterly or annual letters from our favorite managers. It helps spark thoughts, puts things into perspective, and tracks the evolution of "something" that obviously is of interest to us. Also a great way to detail things like "am I on track with my "guidance" from previous years?" "Am I typically consistent or all over the place year to year?" "What do my previous forecasts look like and where were they right/wrong?" "What is my forward outlook?" "What did I do well, and what could I have done better?" Curious if others do anything similar.

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I've always written New Years resolutions but for the past 3 years I've documented them in Pages.

 

On 1 January I print them & throughout the year I make handwritten notes on progress.

 

On New Years eve I use a colored pencil to grade progress.

 

The new resolutions are official now.

Tests from the universe, big & small.

 

---

 

edit: I really like your idea of an annual letter. It's a great way to celebrate the investments you've made in life.

New_Years_Resolutions_2019.thumb.JPG.c7c66b2a291e4a433cd6aa6b7da6a3f1.JPG

New_Years_Resolutions_2020.pdf

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I tend to write down some unstructured thoughts around what I really enjoy, what I should try to avoid, etc, around this time of year. E.g. what is really the purpose of my investing / savings? Stuff like "nobody on their death bed wished they spent more time at the office", the-banker-and-the-fisherman story (https://bemorewithless.com/the-story-of-the-mexican-fisherman/) often pops up. On the flip-side, not having economical worries, f-u-money, etc, is a goal.

 

(I also try to write down my reasoning, including both thoughts and numbers, when buying or selling a stock, and revisit these every now and then to try to learn something)

 

I try to back these thoughts up with some concrete actions, and I'm stealing the first two-tree points from your list, @DooDiligence ;) I could definitely be better at structuring this a bit more, and make sure I actually try to follow (or at least remember) my own advice throughout the year. 

 

edit: Point 1-3 from the 2019-list, about listening etc.

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I tend to write down some unstructured thoughts around what I really enjoy, what I should try to avoid, etc, around this time of year. E.g. what is really the purpose of my investing / savings? Stuff like "nobody on their death bed wished they spent more time at the office", the-banker-and-the-fisherman story (https://bemorewithless.com/the-story-of-the-mexican-fisherman/) often pops up. On the flip-side, not having economical worries, f-u-money, etc, is a goal.

 

(I also try to write down my reasoning, including both thoughts and numbers, when buying or selling a stock, and revisit these every now and then to try to learn something)

 

I try to back these thoughts up with some concrete actions, and I'm stealing the first two-tree points from your list, @DooDiligence ;) I could definitely be better at structuring this a bit more, and make sure I actually try to follow (or at least remember) my own advice throughout the year. 

 

edit: Point 1-3 from the 2019-list, about listening etc.

 

Those 3 are challenging but the results are well worth the effort.

Sometimes I'm good at it & sometimes not.

It takes conscious effort.

 

I feel lucky to be able to virtually associate with so many people

on CoBF, like yourself, who are constantly improving themselves.

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Yep, I do this. Usually the letter from "past me" arrives in email around mid-December.

 

Format is mostly: What were my goals for the year, how did they go, any reflections on that, things to change and goals in the upcoming year. I try not to let it get too long.

 

I'm not sure how valuable it's been vs not doing it, but I enjoy it so I keep writing the letters.

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Guest oakwood42

I wrote a letter last year, gave it to friend, asked him to mail it to me at the end of the year.  It is great way to see how accurate you are, how your year ended up, surprises, where you were completely off...

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  • 4 weeks later...

Something I do, trying to capture and detail many different things of use to me both from an investing standpoint, and a life perspective, is document or remember how things happen and how I respond to them. One of the neatest is the Annual Letter to myself. We all love reading the Buffett Letters, as well as probably quarterly or annual letters from our favorite managers. It helps spark thoughts, puts things into perspective, and tracks the evolution of "something" that obviously is of interest to us. Also a great way to detail things like "am I on track with my "guidance" from previous years?" "Am I typically consistent or all over the place year to year?" "What do my previous forecasts look like and where were they right/wrong?" "What is my forward outlook?" "What did I do well, and what could I have done better?" Curious if others do anything similar.

 

Greg,

 

I do, and for for 2019, I must just say, that I've failed personally - miserably - for 2019.

 

It's about misallocation of effort and time, based on complentancy, instead of trying to keep some overall structure what to do and when - based on the theme "I'll fix that tomorrow...", instead of handling the task now!

 

When I was younger, and much, much more hungry, I would spend the time between Christmas & New Year, to create a specific target list [with regard to specific [named] potential new clients to go for], in the new year, with follow-up, next year [name specific success rate, based on specific target list, measured YoY].

 

- - - o 0 o - - -

 

I suppose, I'm just getting old & "self-fat".

 

 

 

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Guest cherzeca

nope.  I do try to consider my actions, consequences and hopes on a semi-continual basis...my form of prayer.  but this once a year, or even once a month, exercise is not for me.  I do pray and meditate, and my failings and hopes come flooding in with or without invitation when I do.  I would not  begrudge anyone's form of introspection or soul searching whenever heartfelt, but I just try to do it on a fluid as-needed basis...and I always seem to need it...like maybe right now come to think of it

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