The one question that Investors need to ask themselves more
"Where did I go wrong?"
As investors, we often ask ourselves questions like:
- What stock should I buy?
- What price should I pay?
- When should I buy?
- When should I sell?
But I have come to realise more and more that the one question we need to ask ourselves more is: "Where did I go wrong?"
Obviously, you must first have a thesis or reason why you invested in a company. When that investment does not play out, it can be very revealing and a great learning experience to dig into why.
Do you know there is something that is even more rare? That people don't ask themselves?
It is this: When an investment plays out, but you are not invested. Honestly, I am still learning and struggling with this. For example, during the sell off, 2 companies that I have been eyeing for a really long time were IDEXX Labs (IDXX) and Intuitive Surgical (ISRG). I still could not bring myself to buy them during the downturn as they still appeared expensive. The only consolation is that many other investments worked out so no love lost.
But if you want to grow as an investor, you have to constantly ask yourself the "non-obvious" questions, because that's usually where the real answer lies.
Are you asking the right questions?
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