Ten Lessons from My Bad Calls



Lessson 1:
Resisting the Business Cycle Is Futile

If you buy a stock at the wrong moment in its life, it won't win for you. More


Lesson 2:
There's a Market for Everything; Pay Attention to It

You can't ignore that there are different markets for different kinds of stocks. More


Lesson 3:
Do the Right Homework

It's not enough to study a stock. You have to study the right aspects of a stock. More


Lesson 4:
Latin America Is Always a Trade

It has nothing to do with the region and everything to do with fund managers. More


Lesson 5:
Don't Be Afraid to Say It's Too Hard

Some ways of trying to make money on stocks are just too difficult to game and not worth the risk. More


Lesson 6:
Not All Commodity Producers Are as Interchangeable as Their Products

The assumption that all companies that produce oil, or gold, or corn are the same could be costly. More


Lesson 7:
Past Performance Doesn't Mean Future Success

Pushing a streak can be a surefire way to lose money. More


Lesson 8:
Never Invest on Borrowed Convictions

Using someone else's belief about a stock isn't a shortcut you can afford to take. More


Lesson 9:
Make Sure Your Stock Fits the Rally You're Playing

If you expect a big move up, you've got to do your research to play it the right way. More


Lesson 10:
Don't Try to Smash Iconic Truths, Try to Make Money

Tearing down conventional wisdom isn't as profitable as a healthy respect for risk. More