{"id":30342,"date":"2025-04-11T23:56:00","date_gmt":"2025-04-11T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=30342"},"modified":"2025-05-12T09:20:48","modified_gmt":"2025-05-12T01:20:48","slug":"are-you-honest","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/","title":{"rendered":"Are you honest as an investor?"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/#Checklist_to_test_if_you_are_honest_to_yourself\" >Checklist to test if you are honest to yourself<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/#Being_honest_with_yourself_is_the_first_step_to_successful_investing\" >Being honest with yourself is the first step to successful investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/#Mungers_opinion\" >Munger&#8217;s opinion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/#Closing_words\" >Closing words<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Checklist_to_test_if_you_are_honest_to_yourself\"><\/span>Checklist to test if you are honest to yourself<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Unwilling to admit mistakes.<\/li>\n\n\n\n<li>Unable to accept that you are not suitable for stock investment, especially for people with high IQs.<\/li>\n\n\n\n<li>Easily influenced by those around you.<\/li>\n\n\n\n<li>Don\u2019t understand what&#8217;s going on there, and blindly support the people or thing that you even don&#8217;t know indeed.<\/li>\n\n\n\n<li>Unwilling to face losses.<\/li>\n\n\n\n<li>Don\u2019t want to admit that you take everything for granted and just want to sit back and enjoy the benefits.<\/li>\n\n\n\n<li>Don\u2019t want to admit thatyou were brainwashed.<\/li>\n\n\n\n<li>Don&#8217;t want to admit that you are following others&#8217; opinions.<\/li>\n\n\n\n<li>Don\u2019t want to admit that you just like good news and don\u2019t want to accept the facts<\/li>\n\n\n\n<li>Don\u2019t want to admit that you are a frog in the well and have a narrow vision<\/li>\n\n\n\n<li>Don&#8217;t want to admit your are lazy.<\/li>\n\n\n\n<li>Don\u2019t want to admit that your original intention of buying stocks was to get rich overnight.<\/li>\n\n\n\n<li>Don\u2019t want to admit that you just want to get something for nothing.<\/li>\n\n\n\n<li>Don\u2019t want to admit that the stock market is a casino.<\/li>\n\n\n\n<li>Don\u2019t want to admit that they never planned to invest for the long term.<\/li>\n\n\n\n<li>Don\u2019t want to admit that you are jealous of people who invest successfully.<\/li>\n\n\n\n<li>Don\u2019t want to admit that you are a bad person.<\/li>\n\n\n\n<li>Always shirk responsibility, find excuse, complaining<\/li>\n\n\n\n<li>Thinking you are smart, loving to play tricks, always thinking you are a genius.<\/li>\n\n\n\n<li>Have never calmed down to examine yourself.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Being_honest_with_yourself_is_the_first_step_to_successful_investing\"><\/span>Being honest with yourself is the first step to successful investing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the <a href=\"https:\/\/berkshirehathaway.com\/letters\/1989.html\" target=\"_blank\" rel=\"noopener\">1989 Berkshire Hathaway shareholder letter<\/a>, Buffett summarized the major investment mistakes he made in the first 25 years of his investing career; I listed these lists in my post of &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/05\/13\/investment-mistakes\/\">Investment mistakes Buffett made in his first 25 years<\/a>&#8220;<\/p>\n\n\n\n<p>People who are unable to be honest with themselves can only live a mediocre life (which is not a bad thing if this is what you want) and cannot achieve satisfactory results.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mungers_opinion\"><\/span>Munger&#8217;s opinion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Charlie Munger freely admits that he still makes mistakes, even after decades as a businessman and investor. Munger advises everyone to try not to repeat the same mistakes when they are made. He made more mistakes in his early years than he does now. In other words, even though he continued to make underestimated mistakes like everyone else, he gradually improved his ability over time and avoided making the same mistakes.<\/p>\n\n\n\n<p>Munger likes to quote Richard Feynman: &#8220;The first rule is not to fool yourself. And you are the easiest person to fool.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Closing_words\"><\/span>Closing words<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Being honest with yourself is the first step to successful investing. People who cannot be honest with themselves can only live a mediocre life (which is not a bad thing), but they will never achieve anything that satisfies them.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"170\" height=\"100\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2024\/09\/honest-Custom.jpg\" alt=\"honest\" class=\"wp-image-30344\"\/><figcaption class=\"wp-element-caption\">credit: Costarica News<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/11\/are-you-honest\/\">Are you honest as an investor?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/11\/memory\/\">Memory is an edge to investment success<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/30\/problematic-personality\/\">Stay away from people problematic personality<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/18\/fail-in-stocks-invest\/\">Why do most people fail in stocks investment? 4 simple reasons<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/09\/14\/behavior-bound-to-fail\/\" target=\"_blank\" rel=\"noreferrer noopener\">List of behaviors that are bound to fail when investing in stocks<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/05\/13\/investment-mistakes\/\">Investment mistakes Buffett made in his first 25 years<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/09\/10\/wrong-investment-concept\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investment concept not worth trying at all<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/04\/u-should-invest-etfs\/\" target=\"_blank\" rel=\"noreferrer noopener\">Most investors should invest ETFs tracking broader market<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/20\/simpler-investment-better\/\" target=\"_blank\" rel=\"noreferrer noopener\">The simpler the investment, the better<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/13\/investors-who-chase-for-touted-stocks\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investors who chase for touted stocks, doomed to fail<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/03\/14\/too-high-iq-is-not-useful-in-investment-but-will-hinder\/\">Too high IQ is not useful in investment, but will hinder<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/25\/high-iq-prone-invest-failed\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why people with high IQ prone invest failed<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/01\/timing-the-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why timing the market or swing trading simply not work?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/10\/sustained-investor\/\">A investor can be sustained or not? how to verify?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/19\/investing-has-no-formula\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investing has no formulas, but there are ways to invest successfully<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/04\/19\/successful-investors\/\" target=\"_blank\" rel=\"noreferrer noopener\">The main investment principles of successful investors are similar<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/01\/timing-the-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why timing the market or swing trading simply not work?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/05\/13\/what-information-should-investors-take-notes-why\/\">What information should investors document?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/06\/25\/market-crash-pullback\/\">How to deal with market crash or sharp pullback?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/08\/05\/market-crashes-todolist\/\" target=\"_blank\" rel=\"noreferrer noopener\">Todolist when the stock market crashes<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/10\/12\/happy-market-crash\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investors should be happy when market crash<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/10\/20\/thinking-outsourced\/\" target=\"_blank\" rel=\"noreferrer noopener\">Thinking cannot be outsourced<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/09\/01\/investment-is-not-voting\/\">Investing is not voting<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/10\/10\/trolls-and-haters\/\">Haters, the cancer of modern society<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Being honest with yourself is the first step to successful investing. People who cannot be honest with themselves can only live a mediocre life (which is not a bad thing), but they will never achieve anything that satisfies them.<\/p>\n","protected":false},"author":1,"featured_media":30344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,15,17],"tags":[],"class_list":["post-30342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing-behavior","category-charlie-munger","category-investing-psychology"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/30342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=30342"}],"version-history":[{"count":15,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/30342\/revisions"}],"predecessor-version":[{"id":36162,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/30342\/revisions\/36162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/30344"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=30342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=30342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=30342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}