It took enormous faith to put up with the humiliating responses without selling out prematurely. Second, because active investors and money managers truly believe we can beat the market, we are frequently exposed to a failure in our own internal goals and aspirations. This, despite the fact that only about 4 or 5 out of 10 stocks prove to be good picks for most investors. The nameless mortification and dejection inherent in failing to achieve our ambitions and ideals is captured by the word shame. Real Lives, Real Money, Real Anxiety Money managers and individual investors often live their work 24 hours a day.
Professionals toil long hours and are frequently away from family visiting companies.
Vacations exist, but rarely do managers forget about the market when on vacation. While managing one's own small cap portfolio may not require travel, the responsibility for others' money or one's own remains a constant burden in the paradoxical life of individuals who generally love both the cerebral and practical aspects of the investing process. During market down-turns, sleepless nights and workaholic styles are common. And with the exception of those few days when the market is closed, money managers and individual investors tend to experience a low grade anxiety which orbits around thoughts of failure, money loss, job loss, and client loss. In other words, because of the competitive nature of the profession, there is little emphasis placed on understanding another's experience and responding to it with a positive and warm tone.