We Study Billionaires - The Investor’s Podcast Network cover image

TIP175: Shane Parrish - On Buffett, Dalio, and Reading (Business Podcast)

We Study Billionaires - The Investor’s Podcast Network

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The Importance of Reliable Mental Models

A lot of young investors make mistakes when they first get into the markets. They ascribe that success to their knowledge as an investor, which is a mistake. I think early success is probably the worst thing that can happen to investors. It's so easy to convince ourselves what I thought was going to happen and why it will happen. But then you're confronted with what actually played out in reality. And there are two different things that people like getting right for themselves often times.

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