Big Mistakes

A Must-Read for Any Investor Looking to Maximize Their Chances of Success Big Mistakes: The Best Investors and Their Worst Investments explores the ways in which the biggest names have failed, and reveals the lessons learned that shaped more successful strategies going forward. Investing can be a rollercoaster of highs and lows, and the investors detailed here show just how low it can go; stories from Warren Buffet, Bill Ackman, Chris Sacca, Jack Bogle, Mark Twain, John Maynard Keynes, and many more illustrate the simple but overlooked concept that investing is really hard, whether you're managing a few thousand dollars or a few billion, failures and losses are part of the game. Much more than just anecdotal diversion, these stories set the basis for the book's critical focus: learning from mistakes. These investors all recovered from their missteps, and moved forward armed with a wealth of knowledge than can only come from experience. Lessons learned through failure carry a weight that no textbook can convey, and in the case of these legendary investors, informed a set of skills and strategy that propelled them to the top. Research-heavy and grounded in realism, this book is a must-read for any investor looking to maximize their chances of success. Learn the most common ways even successful investors fail Learn from the mistakes of the greats to avoid losing ground Anticipate challenges and obstacles, and develop an advance plan Exercise caution when warranted, and only take the smart risks While learning from your mistakes is always a valuable experience, learning from the mistakes of others gives you the benefit of wisdom without the consequences of experience. Big Mistakes: The Best Investors and Their Worst Investments provides an incomparable, invaluable resource for investors of all stripes.

A Must-Read for Any Investor Looking to Maximize Their Chances of SuccessBig Mistakes: The Best Investors and Their Worst Investments explores the ways in which the biggest names have failed, and reveals the lessons learned that shaped more successful strategies going forward. Investing can be a rollercoaster of highs and lows, and the investors detailed here show just how low it can go; stories from Warren Buffet, Bill Ackman, Chris Sacca, Jack Bogle, Mark Twain, John Maynard Keynes, and many more illustrate the simple but overlooked concept that investing is really hard, whether you're managing a few thousand dollars or a few billion, failures and losses are part of the game. Much more than just anecdotal diversion, these stories set the basis for the book's critical focus: learning from mistakes. These investors all recovered from their missteps, and moved forward armed with a wealth of knowledge than can only come from experience. Lessons learned through failure carry a weight that no textbook can convey, and in the case of these legendary investors, informed a set of skills and strategy that propelled them to the top.Research-heavy and grounded in realism, this book is a must-read for any investor looking to maximize their chances of success.* Learn the most common ways even successful investors fail* Learn from the mistakes of the greats to avoid losing ground* Anticipate challenges and obstacles, and develop an advance plan* Exercise caution when warranted, and only take the smart risksWhile learning from your mistakes is always a valuable experience, learning from the mistakes of others gives you the benefit of wisdom without the consequences of experience. Big Mistakes: The Best Investors and Their Worst Investments provides an incomparable, invaluable resource for investors of all stripes.

Preface ixCHAPTER 1 There Are No Iron-Clad Laws 1Benjamin GrahamCHAPTER 2 Manage Your Risk 13Jesse LivermoreCHAPTER 3 Don't Get Attached 25Mark TwainCHAPTER 4 Genius's Limits 35John MeriwetherCHAPTER 5 Find What Works for You 45Jack BogleCHAPTER 6 Stay in Your Lane 55Michael SteinhardtCHAPTER 7 You're Not as Smart as YouThink 65Jerry TsaiCHAPTER 8 Beware of Overconfidence 73Warren BuffettCHAPTER 9 Get Off Your Soapbox 85Bill AckmanCHAPTER 10 Hard Lessons Can Be Necessary 97Stanley DruckenmillerCHAPTER 11 The Risks of Concentrated Investing 107SequoiaCHAPTER 12 The Most Addictive Game 117John Maynard KeynesCHAPTER 13 You Only Need to Win Once 129John PaulsonCHAPTER 14 Handling Big Losses 137Charlie MungerCHAPTER 15 Dealing with Regret 145Chris SaccaCHAPTER 16 Looking in the Mirror 155Michael BatnickAbout the Author 165Index 167