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.
February 25, 2021
Imagine if you had just become the chief investment officer of the largest portfolio in the world. While there was no strong objection to your appointment, there was tremendous public skepticism. This recently occurred not at Fidelity Investments, Wellington Management, or BlackRock. None of them has a single portfolio close to the size of this...