I am in agreement with your first paragraph.
Regarding your 2nd paragraph, I try to have goals in my investments. TO BE CLEAR, I DO NOT ALWAYS MEET THOSE GOALS. My goals are to get a 25% overall investment return for the year, to beat the S&P 500 by 12% and, most importantly, to beat inflation by 10%. Sometimes I meet all those goals and sometimes I just meet some. I'm sure that I probably have failed to meet all three in a year. But I tend to erase bad from my memory.
But that last goal regarding inflation is my most important goal.