Charley Ellis took Ramo’s idea a step further, applying... - Deepstash

Charley Ellis took Ramo’s idea a step further, applying it to investments. His views on market efficiency and the high cost of trading led him to conclude that the pursuit of winners in the mainstream stock markets is unlikely to pay off for the investor. Instead, you should try to avoid hitting losers. I found this view of investing absolutely compelling.

Defensive investing sounds very erudite, but I can simplify it: Invest scared! Worry about the possibility of loss.

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