Learn how to take losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
August 11, 2016
To recall a lunch from 38 years ago, it had to have an emotional impact. This one certainly did. I felt despondent as the lunch began. The guest speaker was the Chief Financial Officer, Norman Rifkin, of Toys R Us. At that time, the toy retailing industry was an eight billion dollar business. Toys R Us was the largest company in the...