Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Thursday, 8 November 2012

The 4 ways of dealing with negative emotions (and the 6 ways to master them!)

I had a terrible afternoon on Tuesday. Someone I was working with gave me some static about some stuff I hadn’t finished. I felt a little uncomfortable that I hadn’t done some things for her.
I’d ignored the problem, tried a half-hearted approach to fixing it, and I felt frustrated then guilty.
I told everyone who would listen I was “having an awful day” and then my internet crashed which simply confirmed my conviction. I went into a terrible mood for a whole afternoon and made sure everyone knew it – I swore, cursed and refused to speak to anyone in a civil manner.
Negative emotions! We get them every day, but how should we learn from them and deal with them?
Never are these emotions more apparent and applicable than when it comes to finance and investment, for these are highly emotive issues. There are 4 ways in which we deal with negative emotions:
1 – Avoidance
You know the credit card is going to bring bad news so you don’t read it…
We tend to like to avoid painful emotions so we try to avoid situations which bring them. Sometimes, we try to feel no emotions at all, known as flat-lining. This is unhealthy because ultimately we can’t avoid having feelings… and nor should we want to!
2 - Denial
Denial is dangerous because we don’t learn from the negative emotions, so they tend to intensify until we are forced to pay attention.
You buy shares in a terrible investment which crashes in value. You tell yourself it’s “not that bad” and it will recover one day, as the share price drifts ever further downwards…
3 – The badge of conviction!
The most dangerous reaction to negative emotions is allowing your problems to become a part of your identity.
“I’ll always be badly off. Life’s very tough for me, you know. Every time I come into some money, someone or something comes along and takes it from me...”
The problem with turning life into a competition – “I have it worse than everyone else” – is that the belief inevitably becomes a self-fulfilling prophecy. You will act in such a way as to confirm the belief.
4 -  Learning and using
The positive way to deal with negative emotions is to listen and understand what they are telling us and to learn from them. There are a number of negative emotions in particular which you might feel regularly. I’ve alluded to some of them above – we need to hear the message that the emotion is sending us:
Discomfort – something is not quite right.
Hurt – your expectations have not been met.
Frustration – you know you should be doing better than you are.
Overwhelmed – you need to prioritise.
Anger – someone has violated one of your key rules (it may not be one of theirs).
Guilt – you’ve failed to meet one or more of your own standards.
Disappointment – you’ve failed to achieve what you know you can.
Inadequacy – you have set yourself unfair rules for determining what is adequate.
The 6 steps to mastering negative emotions
The good news is that there are 6 key steps you can take to mastering negative emotions.
1 - Identify
Identify which negative emotion you are feeling, and rationalise it.
2 - Acknowledge
Acknowledge what you are feeling and appreciate it. Be thankful for the message and resolve to learn from it. Don’t try to avoid and deny the emotion - it exists for a reason.
3 – Get curious
What is the emotion telling you? What do you really want to feel, and what are you prepared to do in order to feel that way?
4 – Get confident
The route to confidence in finance and investment is through education. Read books! Some investment books are better than others, but you can learn something from every book.
Where an author has taken the considerable trouble to write and publish a text, they usually have something worthwhile to say. If you source your financial knowledge from Twitter or online chat forums you tend to get the quality of information you deserve!
5 – Get certain about the future
You need to become confident that you can deal with the negative emotion next time it arises. Remember that you’ve coped before! Repetition is the mother of skill, so it’s important to practice handling negative emotions when they arise.
6 – Get excited and take action!
Don’t remain stuck with the negative emotions. You’ve learned from their messages, so use what you have learned to make changes and take action...today!