New Year’s resolution
Meir Statman:
“I resolve to know the difference between foresight and hindsight. I will compel myself to remember that my hindsight about 2010 does not endow me with foresight about 2011.
I resolve to remind myself that I’ve seen my investment losses only in hindsight and make peace with them. I will realize my losses quickly, accept the sting of regret and enjoy the tax benefits.”
(Via Resolved: Distinguish Hindsight From Foresight| Bucks Blog NYTimes.)
