The last past of last week was quite dramatic in the London Stock market due to what has now come be known as Brexit (Britain Exit Euro). On one side a really good thing because the people power (read as democracy) was at work, but on this occasion informed by economic ignorance. In less than twenty four hours after the vote, the mind has replaced the emotions, and thoughts not feelings are now ruling. Brexit was more an emotional decision among most voters than a carefully considered factual decision. And now there is another group pushing for second referendum to overturn the decision.
Learning as i was taught by my wealth coach, is turning information into knowledge and skill through the pipeline called experience. Skills on the hand is a daily application of the knowledge for profit. So information must have come first, then used to gain experience and finaly applied as a life ritual to make reular similar decisions. The British, have a had a few days of experience post exiting the largest economic block outside the United States. For the first time, the might British Pound saluted the world with a substantial drop in value.
For many first time investors at the stock market, the sudden returns or loses paasess along this important message. May i suggest to the many first time stock investors that they have a chance to redeem themselves by learning from their mistake by asking intelligent questions.
For example for the current Brexit issue, you should seek to know how the UK market driver Kenya’s economy and therefore how they are likely to shape our fortunes in futures if they continue with the exit. Did you know that Kenya exports approximately Ksh.50 billion worth of tea, fresh produce and coffee to the UK market? The tea alone cover more than 50% of these exports annually, while about Ksh.12b of this export is in fresh produce composed of flowers and vegetables!. This is a story for another day.
Psychologist believe that by “discovering how we limit ourselves,we uncover our doubts and fears and start the process of erasing their impact ” - a self renewal opportunity for a select few daring to realize it. Unfortunately, a large majority of people live an "impostor" image of true self acquired from the environment. Most people, will tend to behave public in a manner that make them accepted by the people around them. Very few will take their own tangent even if it means hurting the feelings of others. The Brexit vote, took that natural path.
At home and even when we were in school, our failures were pointed out by well meaning parents and teachers in away that made us feel that something was wrong with “our personality” rather than the fact that something could have been wrong with “some facts” we have displayed in the form of behaviours. This hit our personality hard and forced some some self image reconcialiation
The resulting self doubt led the young person away from behaviours consistent with their true values to an imposter personality which soon mutated into the person they pretended be everyday! We become what we think and feel.
Losing money and indeed something valuable force the mind to diengage emotions. We remember remarks from the people we respected such as parents and teachers, said to us when we were youn, some of which reinforce our fears and self doubt. The British discovered in less than one day that the their revered sterling pound need other economies. I look forward to how they will face to their battered image and a battered pound.
Patrick Wameyo, Financial Literacy Educator and Entrepreneurship Coach. Email This email address is being protected from spambots. You need JavaScript enabled to view it.
