Rationalization

[pcvix]

http://blog.mdwoptions.com/options_...a-fellow-who-knows-nothing-about-options.html

Investing is a highly emotional endeavor. That’s what it comes down to. We like to think that we’re trying as hard as we can to get things right. The reality is that 80 percent of the effort we put into learning about investing is directed not to learning new stuff but to rationalizing old beliefs that we don’t want to give up just yet.

 

[Eight]

Yes, we probably should not consider ourselves knowledgeable or successful until we look around one day and realize that the experts are nuts...

I'd say there are two levels of success in lots of endeavors, one where you look around and you say "hey, I can do this any day of the week" and one where you look around and say "these so-called experts are worthless sometimes".