There is no more important saying in my life than this.
Pride Goeth Before a Fall.
If I look back at pivotal moments in my life, in almost every instance where bad eventually swept in, prior to that, my pride was at all-time highs.
Pride whispers, “You’re unstoppable.” The universe answers, “Watch this.”
It’s cruel irony, really. The very moment we feel untouchable is when we’re most vulnerable. When we stop questioning, stop double-checking, stop being humble, we’re setting ourselves up for a lesson we won’t soon forget.
In markets, this lesson is especially true.
The market’s biggest drops, even my worst investments, always came at times prior to massive amounts of pride and confidence.
The lesson then is simple and I can explain it in a word: temperament.