“Success is peace of mind which is a direct result of self-satisfaction in knowing you made the effort to become the best of which you are capable.” – Dr. John Wooden
Yes, it’s that time of year again, and I thought I’d invite you into my trading room. I look ahead to 2016 by considering my investment efforts of 2015. My regular readers will recognize this falls into Stage 10 of my Tensile Trading methodology. I have a number of techniques I use each year to accomplish this objective. One I use regularly is to focus on an extraordinary individual and try to understand how he or she succeeded and how I might compare my own efforts to those achievements.
This year, I turned my inspection upon the “Wizard of Westwood” – Dr. John Wooden. Dr. Wooden was UCLA’s Basketball Coach in the 1960s and won ten NCAA titles in twelve years, seven in a row. Remarkable when you consider that no other coach has ever won even three consecutive titles. With exceptional skill, Coach Wooden taught his players to succeed in both athletics as well as in life. The basis of his methodology was his “Pyramid of Success”. I caution any investor who might be asking, “what can I possibly learn from a basketball coach?” I challenge you to keep an open mind, put your ego aside and be receptive and ready to be amazed.
The foundational level of this pyramid encompassed five elements: