Life is really a series of lists. You make shopping lists, school holiday lists, things to do lists, and so many more. The thing is that lists keep your life on track. They ensure that you do not miss out on the important stuff and give you peace of mind. If you have a list ready, then you don’t need to constantly keep track of things in your mind. For all these reasons, an investment checklist is something that you should actively consider making to improve your ability to make optimal investment decisions.

Summary:

In his book, “The Checklist Manifesto: How to Get Things Right’, author Atul Gawande talks about the importance of having a checklist in almost any discipline and how it can help you in your financial decision making journey. Listen to this Money Konnect Podcast by Edelweiss Mutual Fund to learn how you can make an optimal investment checklist.

Key takeaways:

• Human beings often make flawed decisions since they let their decisions get influenced by emotion.
• You can avoid many of these flawed decisions simply by becoming disciplined about the decision making process.
• The solution lies in adopting a checklist approach.
• You make a checklist of the important variables that can have a key impact on your decisions and then ensure that before making any decision you consistently and regularly follow the checklist.
• A good checklist can be particularly helpful in making optimal investment decisions.
• Many investment experts like Warren Buffet and Mohnish Pabrai follow the checklist approach to investing.

Atul Gawande’s book really highlights the importance of making an investment checklist and sticking to it. You can listen to the podcast on the Edelweiss Mutual Fund website, Spotify, Google Podcasts, and Apple Podcast. We hope you enjoyed this podcast and will tune in to listen to more such podcasts on investing nuggets.