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Shades Of Gray: Just Because You Believe It-Doesn’t Make It True – Forbes

The following is a good article by leading Financial Life Planner Michael Kay about the importance of knowing the difference between what you can and cannot control.



No, I am not referred to the uber popular book that had many in various stages of quiver. I am referring to how the decisions we make based on what we read or hear. Our brain is very much in love with the single answer approach-something is right or it is wrong, period. The sense of assuredness allows us to live within the framework of comfort and security. With the exception of things like, a boiling pot of water being hot enough to blister your skin, there are more areas where “maybe’s” and “possibly’s” should supplant the absolutes of yes or no-right or wrong.

News headlines are constantly stating opinions as fact; as are the financial news and the talking heads who populate that domain. Our brains hear statements and then depending on whether we believe the source is reliable or worse, we agree with their statements not that we can really tell, we decide whether or not to act.

Here are a few areas where absolutes should be avoided:

1. The direction of the stock market in the short-term, or worse, the direction of a specific stock

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