- Believing that you have to predict the market’s next move to make big gains
- The “Guru” belief: if I can’t predict the market, there’s someone somewhere who can – all I need to do is find him.
- Believing that “inside information” is the way to make really big money.
- Diversifying
- believing that you have to take big risks to make big profits
- the “system” belief: someone, somewhere has developed a system – some arcane refinement of technical analysis, fundamental analysis, computerized trading, Gann triangles, or even astrology – that will guarantee investment profits.
- believing that you know what the future will bring - and being certain that the market must inevitably prove you right.
Source: The winning investment habits of Warren Buffett & George Soros By Mark Tier
