Don't Let Success Destroy
avoid the danger of complacency
In a long bull market, everyone knows
they are a genius.
When an investment market
changes - our perception is often slow to follow. It
is easy to keep doing what you were doing, and quickly
If a speculation is easy
to do, or easy to find, its profitability will normally
There are a million ways
to make a million dollars in the market, all of them
are hard to find and of a short duration.
It is always easier to
make smart choices when you are not committed. If your
profits are shrinking - get smaller.
Avoid becoming greedy.
In fast moving markets
such as gold mining stocks it is a common practice to
half your commitment if the share price has doubled.
That leaves the initial investment available for another
uncorrelated speculation and still provides plenty to
Never is investment knowledge
so dangerous as when we think we know something - and
we are wrong.
When speculating try to
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