Josh, Ben and I did a video on the 7 deadly sins of investing: Lust, Gluttony, Greed, Sloth, Wrath, Envy, Pride.
My favorite comment was from Josh on the topic of envy.
The worst thing you can do is read articles about investors who have just kicked ass in some stock or some asset class and feel like, “that should have been me. The next time something like that comes around I’m not gonna miss out.” Here’s what you’re not hearing; all of the mistakes those traders have made and all the money they’ve lost in other investments. That rarely enters into the picture. You’re hearing about one winner amongst probably a huge pile of winners and losers. Really important you don’t go around envying other people.
Check out the whole thing below.