Early in my investing life, I bought a biotechnology stock called Amarin. It was my first truly big trade. I had put real money on the line, more than I had ever risked before. There was no plan. In the end, I still made a profit. My father would have given me a very unhappy look for being so “careless.” I have to admit, I thought I had found the promised land.
I took that win as validation. Maybe I had, for a time, discovered a winning stock on my own. That early success was exactly what I didn’t need: overconfidence. Even if I had been right on the analysis, I still had a bigger problem: myself.
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