Another aspect of investing to consider is the psychological side and the various forms of 'self sabotage' that potentially lurk within each investor. Beyond just making mistakes, some investors subconsciously actually want to lose money due to an underlying psychological issue, as seen in people with gambling and other addictions, a form of 'self sabotage'.
Living near Phila for umpteen years I'm well aware of this phenomenon. Like Cleveland, Phila historically has/had a 'city of losers' syndrome, where people are used to losing, come to expect it, and secretly want to lose.
Also relating to 'self sabotage', it turns out that the children of narcissists are often prone to this phenomenon (narcissism in the parent is due to their lack of self esteem, from which they try to overcompensate). The narcissistic parent belittles their kids, who grow up to have low self esteem and a subconscious desire to lose. If not recognized and corrected, this could lead to big trouble, financial and otherwise.
Doing some self-analysis, I think this was part of my problem when it comes to the stock market. You don't seem to have this type of underlying urge toward 'self sabotage', but instead are prone to being overly bold and confident in your overall outlook, with a reluctance to make adjustments, which can lead to mistakes like doubling down on losing positions, etc.
I figure Warren Buffett has a good strategy to follow. Can't argue with success, and his 'longer view' approach smooths out the emotional side of investing, something I always had trouble with.
