I find myself repeating this advice to younger investors who have the wrong impression that they can take big risks because they have youth on their side and time to make good any losses they may incur. But I know from experience how difficult it is to cut losses on a bad investment. The pain of a loss is always hard to bear. Some people never recover from the blow. Early in my working life, there was a major stock market crash in October 1987 – known in financial history as Black Monday – with Wall Street plunging by an eye-popping 23 per cent in a single day. A good friend of mine had just ......
Sometimes we think we know things but turns out what we think we know, but in truth we didn’t know that really bites us. Goh Eng Yeow provides a timely example in the Sunday Times:
