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 25, 2019
In a speech before the House of Commons, Winston Churchill paraphrased a phrase first said by Harvard professor George Santayana. Churchill’s statement that, “Those who fail to learn from history are condemned to repeat it” became instantly famous because of its undeniable truth. This is especially so in the investment business given its...