You can be wrong half the time and still make a fortune, because a small minority of things accounts for the majority of outcomes. It is fine to have a large chunk of poor investments and a few outstanding ones.
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How to manage risk
How to analyze investment opportunities
The importance of long-term planning
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Similar ideas to Become OK with things going wrong.
You can be wrong half the time and still make a fortune.
Anything that is huge, profitable, famous, or influential is the result of a tail event, an outlying one-in-thousands or millions event.
1. Go out of your way to find humility when things are going right and forgiveness/compassion when they go wrong.
2. Less ego, more wealth.
3. Manage your money in a way that helps you sleep at night.
4. If you want to do bet...
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