Being a full-time private investor is no easy feat, and one of the hardest parts is being consistent like clockwork. Many people envision private investing as glamorous, but there are numerous challenges that come with being a full-time money manager.

Like many other investors who have chosen this path, I face a variety of obstacles every day. Life can often get in the way. If I don’t show up, I don’t earn.

Consistency in pursuing any long-term goal is far more important than people realise. Those who remain consistent like clockwork…will ultimately reap the rewards.

Although I love investing and am passionate about the economy, markets, business, and everything related to money, I sometimes find the process exhausting. This is why I strongly believe in automation and a very systematic approach.

Nothing can wear down a private investor more than the investment process, even though this is one of the most critical areas for successful investing. Seth Klarman captures this perfectly.

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All investors must come to terms with the relentless continuity of the investment process.

Seth Klarman

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It is this continuity that I believe drives many investors to abandon the profession of being a full-time private investor. While it is easy to be consistent for a week, a month, or even a year, maintaining that consistency year in and year out, and decade by decade, is what many investors struggle with.

Relentless: Steady and persistent; unremitting. 

Continuity: The state or quality of being continuous in an uninterrupted flow.

It isn’t easy at all. Some days, I feel in the flow, while on others, I can’t bring myself to look at the brokerage screen, read a financial statement, or go through another report. Full-time investing is mostly reading—about 95% of the time—while only around 5% is spent on actual investing.

If you break down the tasks involved in buying and selling, rebalancing, trimming, financial admin work, and lodging returns, and compare that to the extensive research, valuation work, scuttlebutt, and studying of companies and markets, the difference is striking.

Much of successful investing is rather boring. There are days when I enjoy it and love studying new prospects, and there are days when I would rather stare at a wall.

Life can get in the way. I’ve spent a few months travelling around Southeast Asia, which significantly disrupted my process. I noticed I wasn’t looking for new ideas as often or filtering those on my watchlist.

Worse, I was becoming complacent, thinking, “Oh, I’ll just watchlist it; I’ll look at it later,” until my watchlist became overwhelming.

Investing can also be an isolating and lonely journey, as you often find yourself stuck in your own head.

All of this disrupts the importance of the Investment Process. Essentially there are no days off.

🕰️ What does being “Consistent like Clockwork” mean?

The best way to create continuity and consistency, like clockwork, is to build a robust investment system. Tasks and procedures that you do repeatedly can be automated, which is key to effectively using watchlists, price alerts, and company announcement alerts. This way, you are continually provided with the information you need.

One strategy I implement is organising my weeks and months. I allocate specific days and times for certain tasks, such as rebalancing, trimming, and portfolio management, and add these to my calendar. This way, I automatically know when to perform these repetitive jobs.

I set aside specific days for hunting and eventually identifying new prospects. For instance, I dedicate Tuesdays and Thursdays purely to idea generation and looking for investment opportunities. I utilise my system and designated areas to continually scan the markets.

I also apply a similar process to sift through, filter, and archive ideas so that I do not forget or repeat certain tasks. Organising the information and creating databases is essential to avoid keeping everything in your head.

Every day, I have a specific objective. This could involve evaluating current positions, checking my thesis, or reviewing company announcements and earnings reports. I believe each day should not be approached with a “wing it” mentality.

My tasks might be sector-specific or geographically focused. It’s important to stick to a task and see it through. This methodical approach fosters consistency and yields great results the longer you adhere to it. I don’t support beginning each day or week with an ad hoc approach. With a sound investment philosophy and strategy, you should know exactly where to look.

🔁 Automate and create robust systems…

Currently, I am scanning the small-cap stocks on the ASX and the NZE with a market cap under $500 million. This is my current focus; I sift through these stocks week in and week out until I find a potential prospect. After that, I may shift my attention to the Thai small-cap market, and so on.

Everything else is automated with brokerage alerts, and I subscribe to company newsletters on their websites. If you are part of online forums, engage actively in the community.

All of this accumulates and helps solidify investment as a serious role rather than just an occasional activity. This is not so much about tinkering and checking the portfolio every day and adjusting it. It is about every week setting out your big objective and sticking to it.

I also dedicate time to studying macroeconomic events and analysing their potential impact on my portfolio, as well as country-specific micro-events that I can use as a foundation for generating investment ideas.

Project-based tasks are particularly beneficial. This may involve conducting research in a new field I want to invest in, where I spend my days collecting, evaluating, and interpreting all the information I gather. All of this contributes to the consistent, clockwork-like approach needed for success.

🔑 The Key Takeaway…

Investing can sometimes be a struggle. I don’t know any private investor who hasn’t experienced a slump now and then—I’ve been there many times myself. When that happens, I focus on my systems and processes. After a few consistent days, my routine takes over, and I find myself moving and flowing again.

I believe that idea generation is the lifeline for all investors. If you find yourself in a slump, searching for new ideas can reignite your enthusiasm. This is especially true if your portfolio isn’t performing well; it’s easy to feel discouraged, which can lead to poor investment decisions.

It’s essential to rely on your investment process. Don’t skip steps; maintain consistency and trust the system you’ve built. You want to be investing for 5, 10, or even 20 years down the line, not give up simply because you’re feeling tired of the process.

Full-time investing has its highs and lows. Just like any goal—whether it’s getting fit or eating healthier—it’s the consistency over long periods that yields results. There’s no magic pill or formula. Consistency and continuity in your investment process are key for long-term success in investing.