Would you believe that if you have the skills for fantasy football, then you probably can do well at stock market investing? If that sounds like a reach to you, keep reading to see how the stock market is just like fantasy football.
The great fantasy football expert at ESPN, Matthew Berry, recently wrote an article on The 7 Habits of Highly Effective (Fantasy) Drafters (https://www.espn.com/fantasy/football/story/_/id/29510457/fantasy-football-draft-day-manifesto-7-habits-highly-effective-drafters). As I am very much a sports nut at heart, these same habits that he describes also apply to the qualities that make people good at investing in the stock market. I know for many, this sounds absurd but I assure you that it is true.
Let me start by looking at the 7 Habits that Matthew Berry calls out:
Habit 1: They spend a ton of time preparing
Habit 2: They understand positional depth (or lack thereof) – you are not just collecting as many good players as possible. You’re constructing a roster with finite resources.
Habit 3: They know the one big secret of fantasy football (minimize risk and give yourself the best odds to win on a weekly basis).
Habit 4: They recognize this fantasy football season will be vastly difference from any other by a significant margin. (find a way to eliminate the unknown things we can get rid of).
Habit 5: They understand it’s a weekly game
Habit 6: They are flexible and trust themselves above all others
Habit 7: They understand that the draft is just the first step to success
Believe it or not, these same habits or qualities make you an ideal candidate to trade in the stock market as well. Since I love both football and the stock market, keep an eye out for future posts where we dive deep into each habit and I show you how the stock market is just like fantasy football. And if you can understand the intricacies of drafting and prepping a fantasy roster, I can teach you how to make money in the stock market as well.
Schedule a free consultation here and let’s discuss what you are looking to do.