Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to ‘own’ them. This allows me to learn from them and, with any luck, avoid making the same errors again.

This quote advises investors to acknowledge their past mistakes rather than pretending they never occurred. By embracing errors openly, individuals can learn from them instead of repeating the same blunders over and over again.

The deeper meaning behind this statement encourages a reflective approach to personal growth and development. It highlights the importance of honesty with oneself in order to improve one’s decision-making skills and overall performance in any field, not just investing. By confronting past mistakes head-on, individuals can gain valuable insights that contribute to their future success. This mindset fosters an environment where continuous learning is prioritized over maintaining a perfect record, which is unrealistic for anyone.

Barry Ritholtz is a well-known financial commentator and the founder of Ritholtz Wealth Management, based in New York City. His work often centers around offering practical advice on personal finance and investment strategies while emphasizing the importance of self-awareness and continuous learning.

" Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to ‘own’ them. This allows me to learn from them and, with any luck, avoid making the same errors again. " - Barry Ritholtz

" Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to ‘own’ them. This allows me to learn from them and, with any luck, avoid making the same errors again. "
- Barry Ritholtz