As an individual investor I have to recognize that I am unlikely to think of something the brains of Wall Street haven’t thought of, or see things the brains of Wall Street have missed, or have insights they don’t possess.
No doubt some qualities are ‘bred in the bone’. But, it also seems some children learn how to be more confident, to have higher executive control and to be more willing to trust experimenters who offer double treats.
One way to be adept at avoiding failure is to avoid attempting anything you might fail at
Things are almost never clear on Wall Street, or when they are, then it’s too late to profit from them.
The tech fund managers could only hold their noses and invest the money in whatever stock was available that fitted the description ‘tech stock’.
You can continue to learn and improve your investing skills year after year.
It is only by working at what you can’t do that you turn into the expert you want to become.
The personal qualities necessary for success can be nurtured. In time, the personal qualities will fully develop.
What mattered most was confidence in one’s own judgment, from which would flow the Kiplingesque cool to keep one’s head ‘when all about you are losing theirs’
The main benefit of optimism is resilience in the face of setbacks
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