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.
One way to be adept at avoiding failure is to avoid attempting anything you might fail at
You can continue to learn and improve your investing skills year after year.
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