More often than not, lessons of daily life are used to create investing philosophies. But the Value Investing is such a strong, sturdy and simple ideology that I don't see why the daily life of an investor (note, not a speculator) should follow different principles than their investing life.
One example that I recently found applying, quite unconsciously, was the principle of the market being a long term weighing machine [and a voting machine in the short term].
The daily life situation I encountered was the question of job competence of a person I work with. In my opinion, they aren't the most competent and the job position could use someone more appropriate. The only reason they are in that position is because it is perceived by their superiors that there is existence of competence there. Although, I am able to see through the act/facade.
Instead of being upset or disgruntled about this situation, I found myself making the argument that on a long enough time line this person will have to prove themselves, or the superiors will realize their [supposed] mistake-- because they themselves have to continue to appear competent to their bosses. Essentially, on a long enough time line, everyone has to earn their keep. Some have to earn is fast; some have the luxury of time.
Going back to investing, think of that brilliant idea that you have-- a wonderful business that you bought, but it has taken years for the rest of the market to realize that. Well, if your convictions are right, remember that on a long enough time line, the business will earn its keep in your portfolio and will carry its deserved weight.
Daily life, or not, to me it looks like it is all a matter of temperament and attitude.
