First a quick reminder of what the ‘Blog Post Award’ is all about:
The idea is simple: Every time I find a blog post (new or old) that I think will add value for my readers, I will bookmark it and put it on my list to win the: Blog Post Award.
I will then write a post similar to this one explaining why I have decided on that particular post.
I will also link to the post from my blog post Award icon situated near the top of my side bar
For a full list of previous winners visit my ‘Blog Post Award ’ Page.
Now on to the main event; The winner of my ‘Blog Post Award’ : is FOUR POSTS!:
from The Bankbuilder blog.
from Jerry’s Best Bets blog.
from Kodagira – Full-Time Gambling blog.
from the The Portfolio Investor blog.
Why break my rule and have Four posts? Well I believe that all four of these seemingly unrelated posts contain the same extremely powerful message which is the need for: Calm, Patient, Focused, Flexibility and Good Money Management.
In the post written by Jake from the Bankbuilder blog while discussing the frustrations of small fields and bad weather affecting his ability to find suitable selections he wrote:
“I will bide my time and wait as long as it takes to make a wager that I can truly say that win or lose I would make the same wager again and again...and that's the name of the game”
In the Post written by Jerry from Jerry’s best bets blog while discussing his weekly results roundup he wrote:
“Doesn't matter how good of gambler you are there will always be losing streaks through the year. It’s always important to have the right staking plan and betting bank in place, losses can then be kept to an absolute minimum when you go through that losing streak.”
In the post written by Kodigira of Kodigira – Full – Time Gambling blog whilst discussing the terrible strain created by following lots of expensive subscription based tipsters who are performing badly wrote:
“I can't continue to sustain such losses financially or psychologically. I don't want to make rash decisions, it's not in my nature, but I do want this to work and I'm not one to shy away from making tough decisions.”
He then went on to say that he was cutting a large number of subscription based tipsters from his portfolio, his reasons for doing that was that it would focus his portfolio on the more profitable tipsters and just as importantly free up a lot of time for him to find profitable angles for himself.
In the post written by Rowan of The Portfolio Investor blog whilst again discussing the pressures of running a large portfolio he wrote:
“I also needed to identify those that are putting too much of a burden on my time. By eliminating the services that I have even the slightest doubt over (of which there were honestly none), or which I do believe in but acknowledge that following is too time intensive, then the net result would be a thinning of the portfolio; a reduction in the number of services to follow and a consequent freeing up of "chill out" time.”
So if you have read so far, you should clearly see the contrast between the relaxed and confident approach of Jake and Jerry who patiently wait to place a few well chosen bets, against the pressure that both Kodigira and Rowan work under whilst trying to manage a large portfolio of expensive subscription based tipsters.
It is not just the cost in financial terms that causes the problem with running a large portfolio of tipsters, equally important is the cost in the time time it takes to check, place and record all of the bets.
All of this brings me to my portfolio lite and benchmark portfolio. I have noticed that ever since I started to increase the number of tipsters the time taken to manage the porfolio’s has risen expodentially.
To me the whole idea of my portfolio light should be that I can run it with the mindset of Jerry and Jake whereby I feel that I am only placing the best value bets and just as importantly the time taken to place those bets should not be that great that it does not allow for much else in terms of exploring for more profitable angles and methods.
So I have made a radical decision about my portfolio lite and benchmark portfolio that I will reveal in a separate post tomorrow.
I hope you have enjoyed this post.