What Makes a Successful Investor, or Why Numbers Aren’t Everything

Eighty–two per cent of Czechs now put their savings to work in some way, and fifty–five per cent actively invest. Yet thirty–seven per cent report returns that do not even keep pace with inflation. These findings come from the Prosperity and Financial Health Index conducted by Ipsos in March 2026. The figures do not suggest that people lack information. They show that information alone is not enough.

Information Is No Longer a Competitive Advantage

Ten years ago, it was difficult to access data at all. Today, you have charts, comparison tools and analyses right on your phone. According to a Deloitte survey from May 2026, seventy–eight per cent of Czechs now use artificial intelligence at least occasionally, three times as many as in 2023, with decision–making support being one of the main reasons. More than half of Czechs aged between sixteen and thirty also follow financial influencers, and one in four of them has already invested at least once based on their advice, according to an Ipsos survey from July 2026. The market itself has also become more accessible. According to statistics from the Czech Capital Market Association (AKAT), assets under management exceeded CZK 4 trillion by the end of the first half of this year, with CZK 215 billion added in the second quarter alone. But when everyone has access to information, it ceases to be the deciding factor. What matters instead is a single moment: the moment your portfolio falls.

This Year Showed Exactly What That Moment Looks Like

We do not have to look far for an example. According to the Czech Investor Index (CII750), compiled by Swiss Life Select, the average Czech investor ended the first quarter of 2026 with a return of 0.31 per cent. Both January and February had seen gains. But a 4.35 per cent decline in March was enough to wipe out almost all of those gains. After the first quarter, the index stood at 0.31 per cent; by the end of the first half of the year, it had risen to 8.72 per cent. This shows just how dramatically the situation can change within a matter of months. By comparison, the index returned 5.91 per cent for the whole of 2025. This development also shows why decisions made in response to short–term declines can be problematic. And information was not what was lacking — the March downturn was reported everywhere, and everyone could watch it unfold in real time on their phone. The figures shown relate to past performance and the historical development of the index. Past performance is not a reliable indicator of future performance and does not reflect the outcome of any specific investment.

Why So Many People Sell at Times Like These

The answer is simple and applies across generations: a loss hurts roughly twice as much as an equivalent gain feels good. This single imbalance explains the three different situations I encounter most often in practice. Money that never gets invested. According to the Ipsos survey mentioned above, three–quarters of Czechs keep their savings in savings accounts. And at the moment, there is little downside to doing so. Interest rates are around four per cent, usually subject to certain conditions, while the Ministry of Finance’s August forecast puts average inflation for this year at 2.2 per cent. In real terms, the money is not losing value. That is precisely why the decision gets postponed: the figure on your statement gives you no reason to act. But interest rates change, while your investment horizon remains the same. The need to do something. During a downturn, doing nothing can feel like failure. Yet a short–term decline in itself does not necessarily justify changing a longterm plan. Investing by headline. In the second quarter, technology and semiconductor stocks drove the marketexactly the sectors you were reading about in every newspaper. But by the time a particular investment becomes a major talking point, some of its growth may already be behind it. A headline, therefore, is not an investment strategy. All three situations have one thing in common. Decisions are driven by how a number makes us feel, rather than by a carefully considered plan made in advance.

And a Higher Number Will Not Fix That Feeling

Let us say your portfolio grows exactly as you had hoped. Give yourself an extra ten thousand crowns a month, and within six months you will miss that money just as much as you did before. This is known as hedonic adaptation, and it applies to investing too: once you get used to one figure, you start wanting a higher one. Peace of mind, then, does not come from the size of your balance, but from knowing why that money is there in the first place.

What Follows from This

When making an investment decision, it is important to consider how much of a decline the investor is able to tolerate. Since higher expected returns are always associated with higher risk, greater volatility or lower liquidity, being able to stay calm during a downturn is part of the brief, not a weakness. One general principle is to distinguish between funds according to their purpose and time horizon. When deciding on a specific investment instrument, it is then necessary to understand its characteristics, risks, liquidity and investment horizon.

It is also worth relying on primary sources. The Czech Capital Market Association (AKAT) publishes quarterly market statistics, the Czech National Bank publishes its forecast, and the Ministry of Finance its macroeconomic forecast. All of it is publicly available and free of charge. None of those figures, however, can tell you what you personally should do. That remains up to you, or perhaps to someone you can go through it with. A successful investor today is not the person with the most information. It is the person who is able to stick with their decision.

Ing. Jakub Lukšík, Investment Specialist, ROYAL VISION s.r.o.

This text is for general informational and educational purposes only. It does not constitute investment advice or an individualised recommendation to buy or sell any specific investment instrument.

---

Jakub Lukšík works at ROYAL VISION s.r.o., Company ID No. 28322584, which is part of the DRFG Group and acts as a tied agent of the investment intermediary EFEKTA Brokerpool a.s., Company ID No. 29048770, registered in the list of regulated and registered entities maintained by the Czech National Bank (www.cnb.cz). The company arranges investment instruments, insurance and other financial products, including products offered by the DRFG Group, and receives remuneration for arranging them. Warning: Investing in investment instruments involves risk, including the risk of losing some or all of the amount invested. The value of an investment may fluctuate, and the return of the funds invested is not guaranteed. Past performance is not a reliable indicator of future performance.