I don't know who said it first, but I'll say it again: Investors need to know what game they're playing. It's crucial.

I know all investors are trying to make money. But there are several different paths to get there. Consider investing great Warren Buffett, for example. His path follows his No. 1 rule: "Never lose money."

This is actually a different approach than The Motley Fool co-founder David Gardner. He calls his approach "losing to win." He's looking for investment ideas with much higher upside. He accepts that many of these stocks will lose money. But he holds on to his winners for the long haul, allowing them to compound and more than make up for the losers.

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Source Fool.com