The Luckiest Investor

When things go well, investors have a tendency to reflect on how smart they are. And when things go badly, well, that’s surely just bad luck, right?

This preferential bias towards our own perceived excellence is difficult to escape. After all, this bias makes up who we are as people, yet alone as investors. We actually cannot see the world in any other way.

It’s rare to meet an investor who openly admits that they have no idea what’s going on

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