How Hindsight Wisdom Misleads Us
“Never look down the road not taken.”(Nick Maggiulli, financial advisor)
We make innumerable choices in life, some of which could seem unwise in hindsight.
We tend to look at the past through the lens of the present. We regret not buying that stock for $10 twenty years ago, which is now worth $1000.
Life is not linear. Even if we had bought the stock for $10, we might have sold it for $100, say after ten years. Nobody could have predicted the stock would touch $1000 in another ten years.
Luck can cut both ways. We consider a bad investment or a foregone good investment, as bad luck. At the same time, we don’t treat a good investment as good luck.
Forget about the road not travelled and journeys foregone. We can never guess where we would’ve reached.
