Sunday, November 14, 2021

Many people tend to obsess over their past investing mistakes such as not holding the assets that increased in value later on.

 

People tend to believe they always knew they were right when there is an unexpected turn of events. This misconception is known as hindsight bias. Hindsight bias can prevent you from taking responsibility for your mistakes, which in turn prevents you from learning from them.

 

Remember, things do not always go according to plan and we cannot predict the future. Recording the reasons and outcomes of your decisions will help you to make better investing decisions in the future.

 

Make decisions based on concrete information, not emotions.

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