Cease To Learn, Cease To Grow

Some knowledge can only be achieved through time. Call it wisdom. Call it seasoned judgment. Call it whatever you want. All else being equal, some things in life can only be achieved if we choose to stick it out, absorb all we can, and learn from our mistakes.

If your investment thesis became a reality in 2021, do you have the humility and discipline to go back and review your process?

Just because the results turned out in favor of your positioning, does not mean that you did all the right things!

Outside of the traditional portfolio/system reviews, I’ve found the below to be extremely helpful.

• Review how you were set up to handle a different, not so great outcome.

• What biases did you fall victim to?

• How much time per week did you carve out to review your system or portfolio? Is this adequate?

• Identify any poor decisions that were rewarded.

There is no such thing as a wise individual who is not riddled with past mistakes! The trick is they do not cling to these mistakes. They respect their past self by learning from them and moving on.

With that being said, it is okay to not have all the answers. Whether it’s in markets or life. True competence includes the ability to say, “I don’t know.”

Have you ever met an individual who had an answer for everything? Man, they’re the worst.

For me, I’d much rather continue to learn, continue to ask questions and continue to grow my skillset.

That’s enough out of me.

SM