Excess Returns, Ep. 34: The Danger of Learning From Your Mistakes

The process of learning from your mistakes is an important part of improving yourself over time both as an investor and as a person. But it requires that you learn the right lessons and don’t draw the wrong conclusions from your failures. And sometimes that is easier said than done. In this episode, we talk about some ways that learning from your mistakes can be counterproductive.

We discuss:

  • Why a significant failure early in our careers led us to overcompensate later on
  • Why learning the right lesson at the wrong time can be dangerous
  • The importance of judging process and not outcome when learning from your mistakes

We hope you enjoy the discussion.

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