Chapter 15. Invest to Win and Avoid the Blunders
Investing is not a sport, yet investors frequently behave as if it is a sport. We get carried away in the competition of comparing investment results with others. In short, we want to win. We may even believe that investment success brings respect from others or is a reflection of our character. Our environment contributes to this belief. Financial publications rank the performance of mutual funds. They rank the performance of individual stocks and industries. It all seems to be about being number one. Winners then advertise their success. Investing appears to be some sort of game, and everyone seems to want to win.
As Chapter 1, “Other People's Problems,” discusses, this type of attitude keeps our ...
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