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.
May 30, 2012
“In seeking to avoid the dangers of crowd action, remember that a majority opinion can be sustained. Unanimity of opinion is more vulnerable to a contrary surprise.”
The quote above is from Contravisory founder Ed Noonan’s 10 Rules for Investing. Considering the record amount of anticipation and speculation...