If you work from a loss, it's much harder to get back to where you started, not to mention earn gains.
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Unbelievable how basic these are, but they made Buffet one of the richest man alive.
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The idea is part of this collection:
Learn more about moneyandinvestments with this collection
How to manage risk
How to analyze investment opportunities
The importance of long-term planning
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Similar ideas to Never Lose Money
We all have loss aversion, preferring to avoid losses even with the opportunity cost of gaining profits. Losing money, in fact, is a necessary rite of passage that most are not okay with.
The best investors are the ones losing money, but who are smart enough to never lose more than 10 per...
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