The hardest thing is sticking around. Surviving in the investing business, hell in any business, is a success in and of itself. Navigating the market, employees, customers and most importantly, yourself, is tough. In the markets, greed and hubris are responsible for a lot of failures. Holding on too long. Risking too much. Trying to play catch up. Doubling down. All very common, but lethal, behaviors that routinely take down individual investors and professional money managers. At some point, every person experiences strong emotions. It’s those who don’t indulge them, but do the right thing who stay in business.
Show Your Work
1974 - Bill Dunn
1981 - Tactical (David Druz)
1988 - Chesapeake (Jerry Parker)