Stock Investment - what is the most important thing?

I have been talking to my son on his course selection lately as he is preparing for his uni next year.
Out of sudden, he said " I want to learn investing and want to achieve financial freedom as soon as possible, can you tell me what is the most important in investing? ".


He really surprised me with his question, though I am happy to hear that but at the same time a little concern as I would very much like him to stay focus on his studies. In addition, that's a tough question! I have read some of the most popular stock investment books and have come to know some of the very successful stock investors and yes, they have some similarity but at the same time vast differences in approach/methodology as well as behaviour/habits, but which is the most important criteria? I have no clear answer for his question, so I have chosen a safer way to answer.


This is a tough question as after 25 years in stock investment, I am still learning and I have also read about successful investors changed their approach from time to time to improve their returns on investment. Hence, I believe the non stop learning attitude is the most important. Though the principle of winning stock investment is very simple - buy low and sell high! Everyone knows it, but to do it well is not  that simple as that will involve lots of hard work from understanding and analysing the financials ( or analysing charts for some), trying to know the business, assess the management integrity, learn to perform simple valuation to compare price vs value, a little behavioural finance, technical analysis, patience, discipline, learn from past mistakes, etc etc. Wow, the list seems long but over time, you will acquire the knowledge and skills and develop good behaviour and habit to win the game.


Yes, continuous learning attitude to me is the most important thing, not only in investment but any thing that we pursue in life.