I wish I could take credit for the phase but I heard it when listening to a James Altucher podcast. Basically, we all tend to pull out our mistakes, look at them, and start stringing them all together. And you can get addicted to looking at your failures. Don’t get carried away and frame up all of your past efforts by only looking at mistakes.
Sometimes I feel like I’m running the most successful studio in the world. I’ve got a lot of failures I can pull out of the vault and relive. They aren’t really failures though. They are more like experiences. I learn from every one of them and it helps me be a better investor.
So let’s look at one from last year. Red is bad, green is good. There is no green.
I lost $6,554 in about 6 months. A negative 39.9% return. Brutal.
This is what happens when I stray away from Dividend Aristocrats. I also did not set a stop on this stock to protect myself from losses. I should know better by know after all these years. I still have failures and you will too. Hopefully they will become experiences for you as well as you learn your own investment behaviors and style. Even better, learn from my mistakes and don’t make them.
Thanks for stopping by and hope the post has been helpful.