A Mistake I Made and What I Have Learned
Hello, my dear friend @goodybest; according to my recall, this is the first time I've participated in a contest you've organized. This title is very shoot to me as I have already made such a silly mistake and have gained a very valuable lesson from that. We all have made mistakes in our lives; I am no different. One particular error I made, taught me the importance of mindfulness and careful decision-making. Now I am going to share with you about my mistake and the lesson I learned from it.
In 2018, I invested a large sum of money via the Colombo Share Market in shares of a well-known Sri Lankan firm, which had made significant profits over the previous several years. My main objective with this transaction was to gain immediate financial returns. Therefore, without doing a thorough research and getting professional advice I invested a large sum of money.
After several months of my investment, I understood that my decision was wrong. It was because the Colombo Stock Market fell unexpectedly due to the December Easter Sunday bombing attack, and the value of my investment fell threefold. The owner and several members of the management board died from the attack. Following that, the firm suffered a significant loss as a result of the management's failure. Hence, I had to bear the unexpected loss, even without my invested money. This unexpected loss made me disappointed. When I realized how serious my mistake was, I was ashamed. I not only lost a lot of money, but I also violated the fundamental principles of responsible investment.
Following such a significant loss, I concentrated on my error and uncovered several reasons for my failure. The first thing I learned was the value of doing comprehensive research and making informed decisions. I wanted to get wealthy soon, so I made the incorrect investment. Not only that, but I lost a large quantity of money because I disregarded essential aspects of the investment process.
Furthermore, this experience taught me to be patient and tough in the face of adversity. Instead of despairing, I attempted to understand the factors that contributed to the market's decline and how to avoid such danger in the future. It also taught me to be more careful while making financial decisions.
As well, my error taught me the value of seeking guidance and counsel from experts in the business field. Also, it taught me that if get advice from an expert in the field, I could have reduced financial risk.
My dear friends, you now realize how making mistakes may be a beneficial learning experience. As a result of that mistake, I learned to invest my money after conducting comprehensive research on the firm and investing small sums of money in a variety of companies. Thus, my mistake taught me to develop my abilities in investing money in the stock market and broaden my understanding of how to get more profit by investing properly.
I invite to
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Thank you, friend!
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We learn from experiences, that's why they are so necessary, you learned an important lesson, research before investing, surely now you are more cautious, happy day.
Thanks a lot for your lovely feedback.
You have written so well and I must say I enjoyed reading your post it takes courage to admit our mistakes and turn them in to learning opportunities and your story is truly inspiring and I appreciate your honesty much gratitude for sharing your journey towards growth and wisdom best of luck in the contest.
You are welcome.
@senehasa,
Your story is a powerful reminder of the importance of learning from our mistakes and using them as opportunities for growth and improvement. It's inspiring to see how you have reflected on your past investment decision and taken valuable lessons from it. Your willingness to share your experience and insights with others is commendable and shows your resilience and determination to become a more informed and responsible investor. Keep up the positive attitude and continue to apply the lessons you've learned to make better decisions in the future. Your journey towards financial literacy and success is truly inspiring!
Thank you so much for reading my post and leaving such a kind feedback.
You are welcome.
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Once again thank you so much for sharing your experience with us, this could happen to any of us. Indeed the importance of making an informed decision can't be overemphasized. Your resilience attitude toward this kind of loss is commendable!
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Hey, my post got evaluated after 12 days; in any case, thank you very much for your kind feedback. This will inspire me to join in the contest you've organized.
Yes, making such a hasty decision may be detrimental to both our relationship and health. Every day, I told myself that I would be patient, but I am unable to contain myself.
I'm sorry about this, it was due to some extenuating circumstances. It's not always like that. Oh yes patience is a virtue, and you're not the only person who strives to be one , even me!
That is our fault. 😀😀