Mental Model: Expertise #14
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Description
Expertise can serve an investor very well, although it can take 10,000 hours to be a true expert in a particular field. Skills developed in another discipline that has a similar process, can allow an investor to build grit by sticking to a specific discipline, while building a mind set to build towards expertise. Top tip, prioritize sleep because it is restorative and helps with memory and building of expertise. Also, investors will rely on industry 'experts' to understand a particular area, without checking that this individual understand the market, thus their advice may not be useful in the investing forum.
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