STREET DOGS: Paranoia
Success breeds complacency. Complacency breeds failure. Only the paranoid survive
Success breeds complacency. Complacency breeds failure. Only the paranoid survive. — Andrew Grove You should be afraid of failure. I know ... I know. Everyone tells you to embrace failure, it’s a wonderful thing. But, let’s get real. Failure sucks. The goal in investing is never, and that means never, ever, to fail. The goal is to succeed. I don’t care what the popular wisdom of the day is. Failure is not good. Failure is bad. The mistake everyone is making is in confusing risk with failure. You can’t succeed with every investment and you certainly can’t succeed with every trade. But that’s not failure. That’s the nature of the game. They’re not the same thing. And you only want to take smart risks that offer reasonable potential return and, here’s the good part, offer the best chance of success … not failure. We’re not talking about an irrational fear that paralyses. Or that prevents you from making good decisions … we’re not talking about running scared. We’re talking about a heal...
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