Saturday, March 02, 2013 6:07:36 PM
"Only way to make big gains is take huge risks."
Huge risk to me is playing poker, drawing for the flush while I suspect my opponent has trips.
Investing involves CALCULATED risk because we often, not always, have more information to base our decision.
Some of the world's richest people are stock pickers, such as Warren Buffett and many hedge fund managers. Warren Buffett's #1 rule to making money: Don't lose money.
I've done well to date but that could change any time. I think there is more to it than taking huge risks and luck.
Huge risk to me is playing poker, drawing for the flush while I suspect my opponent has trips.
Investing involves CALCULATED risk because we often, not always, have more information to base our decision.
Some of the world's richest people are stock pickers, such as Warren Buffett and many hedge fund managers. Warren Buffett's #1 rule to making money: Don't lose money.
I've done well to date but that could change any time. I think there is more to it than taking huge risks and luck.
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