1. Linear thinking (Most of us want regular returns. But markets do not give returns every year. There are months or years when nothing happens) 2. Quick gratification (Temptation to 'book' your small profits and then later regret looking at the meteoric rise of good companies) 3. Believing stories (Our opinion often gets shaped by what we read or hear. Unfortunately, what we read or hear is often something that's been sold to us. It's crucial to separate stories from actionable information)