Learn how to take losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
September 15, 2010
In this edition of Frank Thoughts, Frank reflects back to the mid-1960s and the key lessons on investing he learned from former Fidelity Magellan fund manager Pete Lawson.
ROBERT F. “PETE” LAWSON
KLM 21 … KLM 1/8 … KLM ¼ … KLM 1/2 kept flashing overhead on the electronic tape. Seemingly KLM Royal Dutch Airlines...