Air travel is one of the safest modes of transportation, with just one fatal accident for every 16 million flights.Black boxes in every aircraft record what happens, providing insights during the postmortem of each air crash so that everyone, from pilots and technical officers to airplane manufacturers, can learn from them.When it comes to buying and selling stocks, you cannot afford to sleepwalk your way through the process.
The natural expectation is for an investment to perform well, especially since we spent time and effort on our research. By setting aside your ego and taking active steps to identify errors, you can start the process of becoming a better investor. By sieving through our past investment actions, we can spot unhealthy patterns or bad habits that we should actively eliminate in the future.By recognising your mistakes and noting them down, your brain learns and helps refine your investment process.
I started documenting my investment decisions as early as 2005 and have made my share of mistakes over the years.