The Eightfold Path of Investing

1. Right Understanding สัมมาทิฏฐิ (ความเห็นที่ถูกต้อง)

• Know your own risk tolerance, financial goals, and the fundamental principles of investing
• Comprehend concepts like diversification and compound interest
• Understand that you can be your own worst enemy

2. Right Thought สัมมาสังกัปปะ (ความคิดที่ถูกต้อง)

• Cultivate a mindset of patience, discipline, and long-term thinking
• Avoid a “get rich quick” mentality
• Develop a rigid investment framework and financial plan

3. Right Speech สัมมาวาจา (การเจรจาชอบ)

• Be honest with yourself and your financial advisors about your financial situation and goals
• Don’t mislead yourself or others by spreading unsubstantiated claims

4. Right Action สัมมากัมมันตะ (การกระทำชอบ)

• Invest in a way that aligns with your values
• Don’t consider ESG ratings an easy way to be granted an indulgence
• Make investments that match your values, not some woke ESG agenda (unless that is your values)

5. Right Livelihood สัมมาอาชีวะ (การเลี้ยงชีพชอบ)

• Avoid illegal, unethical, or predatory investments
• Don’t engage in insider trading or practices that could ruin others, like promoting pyramid or pump-and-dump schemes

6. Right Effort สัมมาวายามะ (ความพยายามชอบ)

• Do your research and due diligence before investing or selecting an advisor
• Make your best effort to avoid impulsive decisions and stick to your investment plan, even when it’s emotionally difficult

7. Right Mindfulness สัมมาสติ (ความระลึกชอบ)

• Be aware of your own emotional state
• Are you feeling greedy because everyone is buying a certain stock?
• Are you feeling fearful because the news is negative?
• Avoid herd mentality

8. Right Concentration สัมมาสมาธิ (ความตั้งใจมั่นชอบ)

• Focus on your long-term financial goals and do not get distracted by short-term market noise
• Review your portfolio and financial plan on a fixed schedule with your advisor