We need to separate our emotion from our thought when making a decision in investment. The reason why smart people fail in the world of investment is partly because they mix their emotion with their thought. We have to construct independent thought receiving the feedback from the reality accordingly to be a wise man in the world of investment although that is challenging.
I myself made many mistakes in the past swayed by my feelings. The loss I made in Rarejob which is online English teaching school is one of them. I got the negative feedback on its financial result, and came to my sense.
I want to list and organize the mental model filters, however I am too busy to do that... I have got to do that somewhere anyway to learn more and get better.