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Enneagram x Stock Picking (Part VII): Type Seven Enthusiasts
Investing in a world to come. By Benjamin Tan
Catherine Wood of Ark Invest is arguably the first female icon in the fund management industry to have reached the same level of prominence as the likes of Warren Buffett and Peter Lynch. Famed for her bullish take on the future of disruptive technologies, she made a significant bet on Tesla ( TSLA 0.00%↑) in the late 2010s, well before Model 3 was successfully mass produced and during a time when the electric carmaker (along with founder Elon Musk) was dealing with bad publicity. Like George Soros who made a fortune and a name for himself when he wagered big against the Great British pound in 1992, Wood ascended to the pantheon of greats when her $4,000 Tesla stock price prediction – widely mocked by Wall Street and the press – came true in early 2021.
Catherine Wood is a believer. And she is likely an Enneagram Type Seven Enthusiast.
Type Sevens: Enthusiasts
If you respond “Yes” to most of the statements below, you may be a Type Seven:
Compared to your peers, you possess far more personal items, like electronics, clothing, and fashion accessories
In group settings, you feed off the energy from others and enjoy enthralling people with stories of your adventures
Everyday routine gets boring quite easily
Being spontaneous is second nature to you, and when you want to do something, you jump into it with little to no hesitation
Introspection and prolonged contemplation of your emotions are rare
Type Seven Enthusiasts are characterized by unbound energy and an insatiable taste for stimulations. They are rarely alone as they love the company of friends, family, colleagues, and even strangers around them. These outgoing individuals embrace life by seemingly living it to the fullest, and many of them enjoy consuming all they can get their hands on, from vacations to fine art and wines. World economies depend on these enthusiasts to ward off recessions.
Beneath the surface behaviors lies a keen intellect. Despite appearances, Type Sevens belong to the same head triad as the more subdued Type Five investigators and the hesitant Type Six skeptics. All of them have curious minds, but what sets the Enthusiasts apart is their willingness to almost hurl themselves into the world of experiences, as if they cannot wait. When quick minds are paired with energetic actions, Type Sevens learn much faster. Appetite for more applies to both consumption as well as creations.
Elon Musk is another prime example of a Type Seven Enthusiast. No other entrepreneur seems to represent the expansive visions and passion for creative endeavors as Musk.
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A Type Seven Investor and Risk Taking
Type Sevens have what it takes to accomplish any task, but only if they do not go overboard. In comparison with Type Five investors who tend to overthink and underdo, their counterparts in Type Seven have the opposite problem. When it comes to investing, Type Sevens are prone to taking on too much risk exposure, being too impatient, and attempting too many portfolio changes. Appreciating the concept of less is more is key to their roadmap.
Type Seven investors may also be swayed by asymmetrical returns. Consistent with their pleasure principle, they may be drawn to gambles masqueraded as exciting investments. Anticipation of a major payoff that fuels their imagined future is almost irresistible. Making large bets is a strong likelihood, especially if early investments turn out well by stroke of luck or otherwise.
Success can breed an addictive cycle of looking for the next big hit for these investors.
Why Learning about Our Motivations for Stock Picking Matters
This is Part Seven of a series of post that I will be writing on Enneagram x Stock Picking. Below are the links to the first six:
Enneagram x Stock Picking (Part I): Type One Perfectionists
Enneagram x Stock Picking (Part II): Type Twos Investing in AMC to Save Movie Theaters?
Enneagram x Stock Picking (Part III): Type Three Investors, Successes, and Delaying Gratification
Enneagram x Stock Picking (Part IV): Type Four Investors and their Emotions
Enneagram x Stock Picking (Part V): Type Five Investors inside their heads
Enneagram x Stock Picking (Part VI): Type Six Skeptics
Our best traits and core motivations are often accompanied by closely related blind spots and unhealthy biases. It is therefore important to clarify our primary underpinnings for investing in singular names, because they can reveal the specific personality pitfalls we face as investors.
To find out more about your typology, try the free test on my website.
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