Financial lies that we tell ourselves

We don't lie just to people we know. We also lies to ourselves.

These are financial lies that we love telling ourselves:

1. I will be greedy when others are fearful and fearful when others will get greedy.

2. I NEVER make emotional decisions.

3. The last 5 years the market has done nothing so in the next 4 years it will double itself -- just as a catch up.

4. Investing is easy.

5. I have a DCF (discounted cash flow) model that tells me exactly why Colgate is a good buy.

6. I am following Peter Lynch's advise. I buy the shares of companies whose products I use. I have been doing a SIP in Jet Airways.

7. I know everything about equity markets in India, Singapore and USA.

8. I know the market is fully priced now... the correction is just around the corner.

9. I know my portfolio returns and total overall asset allocation of my portfolio.

10. I have a brilliant, fail safe, trading algorithm. YOU can NEVER ever go wrong with this tool.

11. I will start my SIP next month. The next month never comes.

12. I will stop doing futures & options -- just let me do this one trade

13. I will top up my term insurance now that I have a new kid (more loans)... .etc.

14. I will start writing accounts diligently so that I know where I am spending MY money.

15. I need not write accounts for expenses -- after all I do not spend irresponsibly EVER

16. I do not need to maintain an account of my investments, except of course as required by law

Want to add your own list to this? Clcik HERE

Illusration: Uttam Ghosh/Rediff.com