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