The biggest mistake an investor can make is to develop an ego. Your ego clouds your judgment and slows your thinking. Only fools think they know it all. Investing is a life long education and its teacher is loss.
You cannot learn the real lessons in investing by sitting in a classroom or reading a few books. You have to experience investing by going through every emotional extreme from going broke to making a lot of money. I went broke several times in my early 20’s. Losing all your money either motivates you or you give up. Either way losing money is the best educator there is. After you fight and claw your way out of the hole, you have made it. I had to claw my way out of the hole a few times.
Source: Anand
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