From Ben Morris, Editor, DailyWealth Trader:
I’m going to make a prediction: Nearly all of the trades you made this year are performing well. Extremely well.
Considering the benchmark S&P 500 Index is down in 2016, that’s something to be proud of.
But this isn’t the time to get cocky or complacent. As writer Humphrey Neill wisely said, “Don’t confuse brains with a bull market.”
Former Stansberry Research Editor in Chief Brian Hunt included Neill’s quote in his list of the 10 best things ever said about trading. Here’s how he explained it:
Neill was a stock market expert who literally wrote the book on contrarian investment thinking. It’s called The Art of Contrary Thinking. Neill’s advice will save you a ton of money as a trader.
The natural human tendency after doing something great is hubris. And in the stock market, hubris is more dangerous than ignorance.