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What does the Civil War battle have in common with modern business and investing? Here, author Ted Lamade reflects on Confederate general Robert E. Lee's overconfidence at Gettysburg, noting that success can breed overconfidence, leading to significant failures in history and money.READ THE ARTICLE
Check your blind spots: While Lee was a successful general, he made critical errors like the ill-fated Pickett's Charge. His assumption of invincibility due to prior victories not only created excessive confidence, but led to risky decisions as well. Lamade highlights contemporary investment parallels that can also develop, such as complacency regarding market stability, and the need for you to prioritize risk management, while leveraging a balanced investment approach that prioritizes long-term financial security over short-term gains.
You may have had incredible success in investing in the market throughout your saving years, but retirement is different and past performance is no guarantee of future success.