First, don't lose

First, don't lose. As Warren Buffett succinctly says, "Rule #1, don't lose money. Rule #2, see rule #1." If you lose 50 percent in a bad investment, you will need 100 percent return just to get back to even. One thing that all the most successful investors have in common is they know that they will indeed lose at times (yes, even Buffett). To mitigate this, they never get too far over their skis and risk too much on any one investment,

— from The Flight Plan (Purpose/Wisdom/Risk) · Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies f

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