Blind Spot 1
When it comes to investment, I have wondered aloud what is my competence of circle. The recent rally of the market (Which has turned as I am writing this), makes me realise:
1) Almost all counters in my radar raises with the raising tide. There are some salted fish that didnt move, but a quick check makes me realised I do not really need skills to pick the right stock during a raising market. The odds are heavily stacked against one when the tide rises or falls.
2) My competence hence is to prevent permanent loss such that a company go belly up. I look at various ratios etc. But the "outsized" gains depends a lot of positioning your portfolio according to the themes. A lot of positive news that happen recently depend on luck rather than skills.
3) Thus it seems, temperament and patience, seems to matter much more beyond the basic investment literacy....