The seeing eye: Investment is likened to chess by Anthony Bolton in that it is necessary to see a couple of move ahead of competitors. Think through the secondary effects of a current change.
For example, everyone can immediately see that a rising dollar against the pound is good news for UK-based manufacturers exporting to the US. What is not so obvious is the impact on the oil refinery industry given the fact that oil is priced in US dollars. And then there is the impact on inflation a few months down the line, which in turn has a impact on interest rates, which can affect company profits.
Lateral thinking is often required to see things differently leading to the development of perceptive vision not in the grasp of linear thinkers.
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Prof. Glen Arnold
I'm a full-time investor running my portfolio from peaceful Leicestershire countryside. I also happen to be UK´s best selling investment book author and a Financial Times Best selling author.
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I write 2 to 3 newsletters per week - investing is about making the right decisions, not many decisions.