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Learn From My Pain

Everything I got wrong and what it taught me.

I've been investing for over 30 years and I've made almost every mistake in the book. Here they are — so you don't have to make them too.

The Hard Lessons

Mistakes that cost me money.

These aren't theoretical warnings — these are real mistakes I made with real money. Each one taught me something that shaped how I invest today.

I tried to pick individual stocks

Thousands lost on 'sure things'

For years I thought I could beat the market by picking the right companies. I bought shares in businesses I was convinced would soar. Some did okay. Most didn't. A few went to zero. Every time I thought I'd found 'the one', the market reminded me I wasn't smarter than everyone else.

What I Learned

You are not Warren Buffett. Neither am I. Buying the entire market through a broad ETF means you own the winners without having to guess which ones they'll be. Over the last 20 years, 90% of professional fund managers failed to beat the market. If they can't do it, why did I think I could?

I panicked and sold during a crash

Turned a temporary loss into a permanent one

During the 2008 financial crisis, I watched my portfolio drop 40%. Every day the news was worse. Every day I felt sick. I sold near the bottom because I couldn't take it anymore. By the end of 2009, the market had recovered most of its losses. By 2013 it was at new highs. I had locked in my losses and missed the recovery.

What I Learned

Markets recover. They always have. The S&P 500 has survived two world wars, the Great Depression, the 1970s oil crisis, Black Monday, the dot-com crash, 9/11, the 2008 financial crisis, and a global pandemic — and it's at all-time highs. The only people who lose money in a crash are the ones who sell.

I kept waiting for the 'right time' to invest

Years of missed compounding

After the 2008 crash, I was scared to get back in. I sat in cash for years, waiting for a 'safer time'. Every quarter I'd say 'next month'. Next month became next year. Next year became five years. All the while, the market was climbing. The 'right time' never felt right — it never does.

What I Learned

Time in the market beats timing the market. Always. The best time to invest was 20 years ago. The second best time is today. Don't wait for the market to dip — if you're investing for decades, today's price will look cheap in hindsight.

I overcomplicated everything

Fees, stress, and worse returns

I had a portfolio with 20 different funds, individual stocks, and a few investment trusts. I was rebalancing quarterly, reading analyst reports, and tweaking allocations constantly. It felt sophisticated. In reality, I was generating fees, creating tax headaches, and almost certainly underperforming a simple global index fund.

What I Learned

One broad ETF holds thousands of companies. Buying another ETF doesn't make you more diversified — it just makes your portfolio more complex. Simple works. One fund, regular contributions, decades of patience. Everything else is noise.

I underestimated the power of fees

Decades of compounding lost to 1-2% fees

For years I didn't pay attention to the fees on my investments. A 1.5% management fee sounds small, right? It isn't. On a £100,000 portfolio growing at 7% a year over 30 years, a 1.5% fee vs a 0.1% fee is the difference between roughly £518,000 and £740,000. That 'small' fee cost me over £200,000.

What I Learned

Fees are the silent killer of returns. A difference of 1% a year compounds into hundreds of thousands of pounds over a lifetime. Always check the OCF (ongoing charges figure) before you buy. The cheapest broad ETF is almost always the best one.

I chased past performance

Bought high and watched it mean-revert

I'd see a fund or stock that had gone up 50% in the last year and think 'this is the one'. I'd pile in, only to watch it underperform or crash as the hot streak ended. Over and over again. Past performance is not just unhelpful — it's actively dangerous as a guide.

What I Learned

The funds at the top of the performance tables this year are rarely at the top next year. What goes up fast can come down faster. Buy the whole market, accept the average return, and let compounding do the heavy lifting. Average returns over a long period make you rich.

The Takeaway

What all these mistakes taught me.

  • Keep it painfully simple

    One broad ETF. Regular contributions. Decades of patience. That's the entire strategy. Everything else is entertainment.

  • Never sell during a crash

    Markets recover. They always have. A crash is a sale, not a disaster. If you can, buy more. If you can't, do nothing and wait.

  • Ignore the noise

    Financial news, market predictions, hot stock tips — it's all noise. The signal is simple: buy the whole market, keep buying, never sell until retirement.

  • Start now, not later

    Every month you wait is a month of compounding you'll never get back. Your future self cares about one thing: that you started.

  • Fees matter more than you think

    A 0.1% fee vs a 1.5% fee is the difference between a comfortable retirement and a tight one. Always check the OCF.

The biggest mistake? Not starting.

Everything I got wrong led me to one conclusion: simple, boring index investing is the answer. Don't take my word for it — learn from my mistakes and make your own.

Start Investing Today