Thinking You’re Smarter Than the Market
Let’s say there’s a domain you’re really good at. It could be real estate, stocks or just about anything that brings you money.
At some point, many experts turn to a new domain thinking they would achieve the same success in no time. As you imagine, it doesn’t work that way.
Just because an investment area seems easy, it doesn’t mean you’ll be successful in all of them.
Back in 2010, there was this real estate expert who had just liquidated his $6 million portfolio. He was so successful in the real estate market, he decided to invest in stocks too – so he did. A lot. It didn’t take more than three years to lose $3 million just because he thought he was smart.
