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Personal Finance

10 Behavioral Pitfalls: A Primer

Successful investing requires a rare ability to overcome one's own psychological weaknesses--but you have to identify them first.

Successful investing is hard, but it doesn't require genius. In fact, Warren Buffett asserted that it's not so much raw brain power you need, but temperament "to control the urges that get other people into trouble in investing."

As much as anything else, successful investing requires something perhaps even more rare: the ability to identify and overcome one's own psychological weaknesses.