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What Are Your “Stand Fors”?

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“Encouraged by ego and the desire to not fail, people stick with the investment bought with faulty facts and then maintained even though they know better.”

In my earlier life, when I advised about investing, I found that people would keep an investment even though the reason they bought it was gone. Or they would stick with an investment even though they discovered new information that, if they had known it from the start, would have kept them from ever making the investment. Logically, in these cases they should sell the investment. But to sell they must admit they should not have bought it in the first place. Our ego does not let us easily admit that we are wrong. There’s also fear of feeling stupid if we sell and the investment goes up afterwards. And, maybe the new investment we make when we sell our old investment won’t succeed, and that will make us feel stupid. So, encouraged by ego and the desire to not fail, people stick with the investment bought with faulty facts and then maintained even though they know better. Maya Angelou’s famous saying, “If you know better—you do better,” often doesn’t stand up to the test. Our ability to rationalize our own shortcomings is in some ways God’s greatest gift. Rationalizing keeps us safe in our own l …

About the Author

Paul Sutherland

Paul Sutherland resides in Michigan with his four youngest kids, ages 5 to 10. He and his wife, Amy, try to be an example of Parenting for a Peaceful world, in which democracy begins at home.

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This entry is tagged with:
Financial AdviceSelf-CoachingCommitment

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