Over-Reliance on Past Success

You can risk over-indexing if you aren’t careful. Yes, study and look to the successes found in history books, but acknowledge the variables that are at play. Remember, “you cannot win the lottery by using someone else’s numbers.” Your individual circumstances will never perfectly match those of the one you read about. Everything is in constant motion: markets, opinions, people, etc.

Take to heart the wisdom found in the saying “trust but verify.” Be willing to experiment and pivot frequently. Be agile.

History can teach you many things, but it cannot prescribe to you the unique and exact recipe you will need to reach your goals. Your task is to figure that out for yourself and enjoy the process.