Fisher Investments Press: Own the World: Step 4, Always Remember You Could Be Wrong, So Don’t Stray from the First Three Steps

Always remember: You can and will be wrong. This might seem like the easiest of the four steps to follow, but for many, staying disciplined can be difficult. Call it hubris, chutzpah, audacity, or a blatant disregard for reason. Fisher Investments believes many people are drawn toward reckless decisions like moths to a flame.

Why do we make these careless decisions so often? That’s a question behavioralists will ponder until the end of time. You could blame your caveman ancestors for getting your brain hardwired for this sort of tomfoolery. For them, the dangerous task of bagging a woolly mammoth meant feeding the clan for a month. Now we love the grand slam, the hole-in-one, the 90-yard touchdown pass, and the half-court jump shot at the buzzer. Fisher Investments thinks in investing, that translates to going for the fast money. Unfortunately, too often the only thing fast about it is how the money leaves your portfolio.