Feb

14

Failure, from Jim Sogi

February 14, 2014 |

 I've been thinking about failure. There are several kinds. One is inevitable: the failing of organs leading to death. Everyone fails in this regard. I suppose it is the manner of living, style, and health before that defines whether death is a failure or the end of a good life. Failure of health is bad. It's important to take care of health. It's the most important thing there is.

Another kind of failure is  failure of judgment. We've all had them. These are mistakes, failure to see the train coming at you. Looking back, they are usually pretty stupid in hindsight, but very hard to see in real time. If you learn from them and grow, and let them go, they won't ruin your life.

That brings up the next type of failure. Failures in a career, a marriage, a relationship, a friendship, an investment, or a business are serious and not easily overcome. More than one is very bad. Sure Ray Kroc overcame failure dozens of times, but most cannot. The odd thing is that some people don't see why they failed. They don't see what they did caused their failure. This is the bottom half that thinks they are better than most, the rationalizers.

I look back on my failures and see they are from personal defects. I can only try to work around the defects. I'm not sure its possible to correct personal defects even if you recognize them.

Jeff Watson writes: 

Personal defects are so ingrained, they need to be worked around…..I have not seen any credible evidence that they can be corrected. I trade around my demons every day.


Comments

Name

Email

Website

Speak your mind

5 Comments so far

  1. Shane Hurren on February 14, 2014 5:23 am

    This is interesting regarding trading…

    The best way might be to trade on the time frame that does not bring them out.

    Or, automate the process where the decision to be made seems to be hard for one to make.

    Or, more mental exercises might need to be done. By this, more mental imagery to ingrain the new behavior.

    I say this as something that might be able to help me. I found, with trading very short term time frames, volatility can much harder to judge. Much harder than a daily or weekly for swing trading. This being so, exits, (stops and targets,) can be too. (Putting in hard close stops one must be careful, and targets are easier said then done I think. Why? So much can happen on the way to your target on an intraday level.

    So much does come down to experience and market feel. But, the one who will win in the end of the two that have the same level of talent will be the one who can let go of a loss.

    As all of us have found out.

  2. Shane Hurren on February 14, 2014 5:32 am

    Also, as for feeling that one is better than others at an endeavor. I don’t think this necessarily bad. As long as a person is still open to learning. I also don’t think it is what makes people fail.

    I think there is a problem though when people begin thinking they are better than others as a human being because they are better than others at one activity. The reality is, a lot of times people who are talented at things are bad in other areas. Their talents are compensations.

    I think you would be hard pressed to find athletes who don’t think they are some of the best on the court,field or ring. To be the best, you have to think that way. As long as you are willing to do the work.

  3. Andre wallin on February 14, 2014 10:40 am

    Failure + reflection = progress (Ray Dalio)

    Your biggest enemy is in the last place you’d ever look and the greatest trick is that it makes you think it’s part of you. ie your ego (from Guy Richie’s movie revolver)

  4. Tom David Lewis on February 15, 2014 8:44 am

    Psychoanalysis is a cure for “personal defects”. The price is high and the effort enormous.

  5. Andre wallin on February 16, 2014 9:36 pm

    What are daily specs’ opinion related to marijuana use? What is the likelyhood of nationwide marijuana legalization and marijuana related stocks? Is it the same as bitcoin? Backed by public demand, opposed behind closed doors by feds and they will bring it down silently like they are bitcoin?

Archives

Resources & Links

Search