A great investor will challenge their own ideas
The ability to challenge your own ideas was one of the investor attributes that Hamish Douglass said he admired and aspired to in the recently released Magellan Global Annual Investor Report. “Confirmation bias is one of the primary causes of investment mistakes”. Douglass believes that a good investor will seek to challenge the status quo and find information that disproves their investment thesis. The admired investor will push against inherent human tendencies and be obsessed about analysing the facts, will always be rational in deciding a course of action, will understand the limitations of their own knowledge, will continuously challenge their best ideas and will remain completely unemotional in their decision making not withstanding the environment they are in. For the full list of 11 investor attributes that Douglass admires click here (VIEW LINK)
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