It’s common if you are wealthy to worry about losing your fortune due to forces beyond your control. Like market meltdowns or economic stagnation.
But what many of us don’t realize is that our own behavior may be the root of significant losses.
“The road to hell is paved with good intentions,” goes a proverb. The road to investing hell is paved with bad behaviors, and here are the five roads which initially look like paved with gold, but which often take us towards wealth destruction.
Daniel Kahneman was right when he said this –
A human being is a dark and veiled thing…and whereas the hare has seven skins, the human being can shed seven times seventy skins and still not be able to say: This is really you, this is no longer outer shell. So said Nietzsche, and Freud agreed: we are ignorant of ourselves.
We certainly are. Don’t you think so?