Here's Warren Buffett's Excellent Advice for When You've Lost Money
You don't have to make it back the way you lost it. -- Warren Buffett
That simple sentence from superinvestor Warren Buffett is more profound than you might think. It offers an insight that eluded me for many years, costing me money in the process. Here's a look at how you might apply it to your own financial decision-making.
First, though, in case you've heard the name Warren Buffett but are not sure just why you might want to listen to what he has to say, know this: He has increased his company's (Berkshire Hathaway) value by an average of nearly 20% per year over 57 years. The S&P 500, also no slouch, averaged 10% annual gains during the same period.
Source Fool.com
