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Friday, 19 August 2011

I am wrong

Question:

When was the last time you heard yourself saying: “I am wrong?”
                
If you did, then you belong to the minority of people who are open to the idea that we can and do make mistakes. Or we take responsibility for what we say or do – and not play the blame game.

Next question:

How many of you say it this way: “I am wrong. How can I make it right?”

There’s a world of difference between the 2 statements! The latter one shows you mean it – sincerity.

Before I go on, for transparency, I must declare I am still stuck at the “I am wrong” stage. My Zen kung fu has not reached the latter stage. It’s still work-in-progress.

“How I can make it right?” is a statement not to be taken lightly. It means taking personal responsibility – and that could mean:

1)      pay for the damages;

2)      resign from your position;

3)      jail time;

4)      and so on…



OK, now that I have got the “context” out of the way, it’s the practical application for those who are not into philosophical musings…

Two weeks ago, after US debt got downgraded by S&P, the market fell apart. Some acted, some just watched. Can you remember the reasons you have acted or chosen not to act?

Are you still sticking to your original decision or plans?

If you are man (or woman) enough to admit: “I am wrong”; would you owe it to yourself to ask: “How can I make it right?”


As a cheerleader, I would like to cheer us on! Be selfish! Be nice to yourself!


12 comments:

  1. simple, you should feel happy when you admit your mistake, provided that you first must acknowledge your mistake.

    i'm not saying i'm totally happy but it keep improving.

    ReplyDelete
  2. Hi SMOL,
    In the stock market, i know i am always wrong in some ways.
    i only hope i can see where i am wrong and not to repeat same mistakes.
    On the hand, i hope i don't behave like in the stock markets in my daily living.

    ReplyDelete
  3. abit out of point, but I was told by a psychiatrist that the word "BUT" is very strong. It indicates that the person is already closed minded to the new idea.

    e.g.
    X: Do you think that this could be done in this way instead?
    Y: Maybe, BUT ....

    So, have you closed your mind unconsciously? Maybe, but I don't think so ;)

    ReplyDelete
  4. Hi SMOL,

    What are you wrong about?

    ReplyDelete
  5. i have 2 comment on this, 1 is good and the other is bad. if i let you choose you will choose the bad one but to be fair i give both.

    first the good one, as an investor you did well, have the patient to buy when market is falling and panic.

    next the bad one, now you say you are wrong (losing), means you are now talking as a trader. you did not see the big fall coming. you want to run?

    conclude, don't mix trading with investing! for investors, they are buying or waiting to buy. for traders they are running or shorting. which side are you belong? i sure hope you are not trading as fat and i had conclude that trading is very very difficult unless you are doing full time.

    so as a investor, you are not wrong in any case, stick to your plan and buy more when market continue to fall. remember, no one can predict the market, not even the top trader.

    lastly, in trading and investing, there is no right or wrong. there is only win or lose. ask yourself is it ok to lose or your terms wrong? if the answer is not ok, then better stop doing it.

    i appologise for confuse you with my trades and forecast. so be very firm with your buying!

    ReplyDelete
  6. haha and back to zen stage of "i'm wrong, How can I make it right?”.

    well same as in trading, it should not be "How can I make it right?” but "is it ok for me being wrong", or "can i accept that i'm wrong".

    if the answer is yes yes yes! congratulation!!!

    ReplyDelete
  7. Hello readers,

    I wrote this post as a philosophical lament that although I have no problem admitting I am wrong, I am not "sincere" or "brave" enough to add: "How can I make it right"...

    Hidden in the background, I am thinking:"I already said sorry, what more do you want!?" As if saying "sorry" is enough...

    Added the practical ending to remind myself that I can start by making right the wrongs I have done to myself - the stock market thing is just an analogy because feedback received is that I can be quite cryptic at times. LOL!

    ReplyDelete
  8. Hello Isaac,

    No, its perfectly relevant! You are spot-on with my denial.

    Words are important. I would like to share with you a young reader who have "taught" me the same thing as you have done. It's so refreshing to mix with young minds! Eh! I still young-at-heart so don't you dare call me uncle! LOL!

    http://quirkyhill.wordpress.com/2011/07/28/kindly-read-this/#more-4179

    ReplyDelete
  9. Hello AK,

    I am wrong about many things!

    Kudos and respect to your discipline in righting the "wrongs" in your stock selection.

    And your resoluteness in sticking with your plans when you know you are "right" - when others are questioning them with good intentions ;)

    ReplyDelete
  10. Hello Coconut,

    I simply love your insights and comments! And your care and concern; hand to heart.

    It's cool. I don't like to restrict myself with "labelling".

    For convenience, I call myself a swing trader when visiting trading blogs; while I call myself a growth and income investor when visiting investing blogs :)

    But in my hearts of hearts, I would call mysself a speculator - it's a homage to Jessie Livermore, and at the same time, a reminder to myself how he ended...

    Confucius is right. When I hit 40, I see a lot of things with clarity. And that's both a curse and a blessing...

    ReplyDelete
  11. you did many things wrong cos you wanted to make everything right and thats the problem! are you a perfectionist?

    then you change everything to make it right and everything starts to go wrong again and the cycle continue.

    learn what i learned, you have to start accepting you are no perfect and no big deal that you did it wrong and continue to do it wrong. nobody cares what you did wrong and neither do you.

    aware of yourself, accept and be happy but don't change yourself. whether in investing or otherwise you will gain much more.

    my honest opinion.

    ReplyDelete
  12. and for others that did so many silly things (i've done it myself) and are not aware of it, thats another story.

    at least you are aware and thats a good thing to start with.

    ReplyDelete

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