Been catching up on some reading and pods over the past few days while I endure the effects of the Man Flu.

I continue to hear people say that the best thing that ever happened to them was when they lost money on their 1st investment because it didnt give them a misguided confidence in their abilities had they made easy money.

In Ian Cassel's latest post he takes a different view. His 1st investment was a big win and he is glad of it as it gave him self confidence. (I think I would have been happy too in all honesty) It didn't matter that it was 100% pure luck it just proved to him that it could be done, and that's what mattered to him.

Later in his career, he lost 90% of his capital during the dot-com crash, but he remained confident he could get it back because he had confidence in his ability.

I personally lost plenty in my early days and soon realised that it wasn't anything to do with good or bad luck. It was because I knew nothing and no amount of confidence would change that. For me confidence came over time with experience and knowledge.

How was it for you?

https://microcapclub.com/stock-picking-is-a-game-of-self-confidence/?ref=newsletter