I think the memetic nature of humans is so strong across investing, but also other areas of life. There's a phrase in poker which is called playing on tilt. You do have to learn to master your mind. i did walk away with a better mastery of my mind as it related to making bets and speculating,. building my own conviction, knowing my own rules. But on too many days i was playing on tilt... And playing on tilt is a bad strategy. We will not just reflect on our own strategy. We are influenced by other people's actions in making these decisions.
The allure of getting rich quick is intoxicating.
It's even more intoxicating when you're trapped inside and it seems like all your friends have cashed in big.
In this episode, Cal and Steph discuss Cal's experience with active investing over the last 20 months and ultimately, why it's time to walk away from the casino.
If you liked this episode, make sure to subscribe and leave a review. You can also read Calvin's article on the topic here.
And if you're also stuck in the casino, don't be afraid to reach out to Cal or Steph on Twitter. We'd love to hear your story.