When excuses replace strategy in investing

The excuses we tell ourselves

Sometimes the biggest danger isn’t the market. It’s what you tell yourself after it punches you in the face.

This story follows Bearry and Toroshi – two smart investors who both make dumb decisions.

But instead of owning it, they each rewrite the story to protect their pride.

Until a quiet moment later, when truth sneaks back in.

Bearry’s “Long-term vision”

It started with a biotech stock. Bearry saw it trending on FinTok.

He skimmed an article, felt the FOMO, and hit buy.

Within days, it dropped 12%. He checked the news. Some clinical trial delay. Not a total disaster.

He told himself it was fine. That this was a “long-term hold” anyway. That he believed in the tech.

Even though he hadn’t even read the full earnings report.

Bullma raised an eyebrow when he mentioned it later.

“You sure it’s long-term conviction and not long-term avoidance?”

Bearry smiled, pretending he didn’t hear. Deep down, he knew.

Toroshi’s “Recovery play”

Meanwhile, Toroshi was fuming after a trade that stopped out 8% below entry.

“Market was irrational,” he muttered. “Bad luck, not a bad setup.”

But that sting wouldn’t leave. So he pulled up a new chart. A stock with hype and potential for a quick bounce.

He doubled his position size and jumped in.

“This one’s clean,” he told himself. “Just a recovery play.”

It wasn’t. The next dip wiped out another 7%.

But he told Bullma he was “testing momentum strategies.”. No one argued. But he saw it in her look.

The quiet shoulder tap

That weekend, Bearry and Toroshi sat outside HQ with coffee and no screens.

Neither brought it up at first. Then Bearry spoke:

“Didn’t sell the biotech. Still ‘holding for the vision,’ I guess.”

Toroshi laughed. “Recovery play didn’t recover. But it was... educational.”

They clinked coffee mugs. No drama. No denial.

Just a moment of mutual recognition that they had both messed up.

Lesson unlocked:

1. Ego tax is real. Excuses protect pride but drain portfolios.
2. Honesty compounds. Calling a mistake early frees you to adjust before losses stack.
3. Accountability beats narrative. Sharing the truth with yourself – or a trusted partner – keeps bias in check.

It’s easier to protect your ego than your capital. But the real strength comes from calling it what it is.

Being honest is the first step. Turning that honesty into a system is the real upgrade.

Take the quiz, then learn how to lock clarity in with your own behavior checklist.