Investing for Survival
12
things I learned from David Tepper: #7
7. “There is a time to make
money and a time to not lose money.”
There is a time to reap and a time to sow. There is also
a time to be defensive and not lose money. Sometimes almost all potential
investments are properly put in the “too hard” pile. At times like this, the
best thing you can do is preserve what you already have. Investing is a
probabilistic activity. If you don’t have an investing thesis that is the
output of a sound investing process which is net present value positive, then
don’t invest. It’s that simple. Having a “too hard” pile is such a huge advantage
in life.
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