“First, expect to be wrong in the stock market.”
My friend Ravi had a puzzled look on his face. He asked me, “What are you saying Vishal? One has to always be right to survive in the stock market. And you want me to expect to be wrong?”
Ravi isn’t an exceptional case. I have seen so many other investors amazed when I ask them to expect to be wrong in the stock market.
You see, one of the most important traits of successful investors is that they recognize the frequency with which they can get ‘clean bowled’ – and thus they have a plan in place to deal with such situations.
This is the first lesson most new investors fail to digest, and thus neglect.
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