Charles Ellis notes:
-the great secret for success in long term investing is to avoid serious losses.
-stock and bond investing should be a defensive process.
-if a major decision is truly fiduciary in nature, it never needs to be done quickly. Time urgent decisions are never fiduciary.
-reduce errors
-if you find yourself getting caught up in the excitement of a rising market or distressed by a falling market, stop! Break it off. Go for a walk and cool down. Otherwise you will become part of the crowd , wanting to do something- and you will make errors, perhaps grave errors that you will regret.
-when you feel euphoric, you're probably in for a bruising. When you feel down, it's darkest just before dawn- abd take no action.
-how your investments behave, is beyond your control. But how you behave in response to their fluctuation is within your control.
-in a losers game, the outcome is determined by mistakes made by the loser.the best way to win is by making fewer bad shots. Keep the ball inside
-the great secret for success in long term investing is to avoid serious losses.
-stock and bond investing should be a defensive process.
-if a major decision is truly fiduciary in nature, it never needs to be done quickly. Time urgent decisions are never fiduciary.
-reduce errors
-if you find yourself getting caught up in the excitement of a rising market or distressed by a falling market, stop! Break it off. Go for a walk and cool down. Otherwise you will become part of the crowd , wanting to do something- and you will make errors, perhaps grave errors that you will regret.
-when you feel euphoric, you're probably in for a bruising. When you feel down, it's darkest just before dawn- abd take no action.
-how your investments behave, is beyond your control. But how you behave in response to their fluctuation is within your control.
-in a losers game, the outcome is determined by mistakes made by the loser.the best way to win is by making fewer bad shots. Keep the ball inside
