If you have spent a month researching an idea, it does not become more attractive than a no-brainer flash you get which you are in the shower. The attractiveness of a stock comes from the difference between its intrinsic value and its market price, and the probability of the two converging. It does not come from the effort you have put into researching it.
Remember the experience you acquire by spending a month researching an idea which turns out to be not so good an idea after all counts towards the 10,000 hours of of experience you need to have to qualify as an expert.
Great scientists know the importance of this principle. Thomas Edison once said, “I have not failed. I’ve just found 10,000 ways that won’t work.”
Likewise, past actions don’t become worth continuing simply because you have too much invested into them. Many a bad marriage is continued because of this fallacy.
You are going to make mistakes. Recognize them, correct them, and move on. Don’t perpetuate your errors by rationalizing that “I have too much invested into this, and I can’t just write it off and start again.
Sunk costs (financial and emotional) are irrelevant for future decisions.
1 thought on “Story@BFBV: “I Have Too Much Invested in This” Story”
Nice new blog sir. On other thoughts, I feel, it will be better if we can put all your wrintings at one single place.
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