The Importance of Self-Awareness and Humility w/ Patrick Geddes

Patrick Geddes Gives Back to Society There are various strategies you can implement as an entrepreneur. But having the right attitude is important as well. According to our guest, Patrick Geddes, humility and self-awareness are important traits of an entrepreneur. Patrick said that self-awareness opens possibilities for partnership and collaboration. Want to hear more about his thoughts? Stay tuned! Who is Patrick Geddes? Patrick Geddes is the author of Transparent Investing. He is also the former CEO and co-founder of Aperio Group. Patrick has now shifted his focus to working as an author. With his long expertise in the finance industry, he has established a great reputation for himself. Transparent Investing by Patrick Geddes After retiring in 2021, Patrick focused on writing Transparent Investment, a book that provides investment and stock market tips for people who want to get into the niche. The book was written based on data-proven strategies that will open new investment ideas.  Innermost Superpower: Self-Awareness Patrick considers self-awareness as his innermost superpower. He mentioned that to become an effective CEO you have to accept your shortcomings work hard to continuously improve. He kept a long list of his gaps and it became his mission to cross every single one of them off the list.   Pullout Quotes:  "It's a wake-up call for consumers, interacting with the financial services, investment industry particular can be just challenging because...so many of the incentive is set up to maximize revenue to the industry and it doesn't mean there's no value."   "You really want to be a smart consumer first before you think of yourself as a smart investor...just through the evolution of our brain, we are wired to frequently make poor decisions..."   "When you presume you can read the market..."   "The stock market is always risky...the analogy we hear often is people drive by looking into the rearview mirror when instead you need to be looking what would come in the future."   “You can avoid market downturns and only be in the market when it's going up and the evidence is overwhelming that's not possible so there's this weird sort of paradox. You actually get wealthier by doing less and by being less confident in your ability to predict what's going happen…”   “I would argue that humility makes you a lot richer…”   “the problem with entrepreneurship is obviously being very dedicated and working incredibly necessary condition you can't succeed as an entrepreneur without that…”   “...revenue and it's really important to keep yourself very conscious of the stuff you're good at and the stuff you're not so good at and as the business grows and is new skill sets are needed the importance again of that humility…”   “(when older) you invest really differently but our emotions are focused…so the hardest thing is to kind of decouple from where our emotions are in generally… I'm not sure I can think of any other part of life uncoupling from your emotions is a really unhealthy thing psychologically or emotionally or spiritually but when it comes to investing decoupling from your emotions is going to make you a lot richer.”   “stay away from the temptation to try and just acknowledge that you feel really bad I feel bad when the market goes down…it will bother you this is your money people feel awful when they look at their balance drop but that doesn't mean it leads to good decision so be very sympathetic with your emotional suffering but don't act on it.”   “The more self-aware an organization is the less ego-driven the healthier the decisions.” Chapter Stamps:   00:00 Intro 00:37 Patrick Geddes, Aperio Group and as an Author 02:14 Book: Transparent Investing 04:35 Active Management is Bad Bet in Investing 09:13 How to Overcome Market Downturns 11:40 Obstacles as an Entrepreneur 13:00 Success and Drive as an Entrepreneur 15:28 Advice in Investing without heavy risks 17:36 Number 1 Tip in Investing 21:40 What Attributes and Techniques Should Be Done To Succeed 23:47 What's the best investment? 23:15 Innermost Superpower 28:32 Reflection of Self Awareness 32:40 Accountability in the Company's Power Structure 34:55 How to Handle Conflicts   Social:  Website: https://patrickgeddes.co/ Facebook: https://www.facebook.com/profile.php?id=100068952574476 Linkedin: linkedin.com/in/patrick-geddes-929b15213 Instagram: https://www.instagram.com/transparentinvesting/ Twitter: https://twitter.com/PatrickGeddes9