Richard Feynman once said “The first principle is that you must not fool yourself – and you are the easiest person to fool.” This is true in all walks of life- we think we’re better looking than we really are, we think we’re smarter, better drivers, better parents, and better children. Of all the places that self-deception exists, investing has to top the list.
Harvard Business School’s Max Bazerman said “it’s easy to have illusions about the future if you don’t even have a grip on your own recent past.” Do yourself a favor and get a grip. Log into your account and examine your performance. It might not feel good and it might not even change your approach, but maybe it will dampen any illusions you have about the future.
