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.
February 07, 2014
It was the end of a day as I sat in a local restaurant kvetching to a friend. Kvetching is Yiddish for complaining. I really love Yiddish because it often captures not only a word but the sound of feeling in the word. It’s spoken emotion. “It’s been a five-year secular bull market,” I kvetched. “So what’s the problem?” he asked. “...