One of the guiding principals of Rockhaven is to cut losses short. Nothing makes me more ill than to see a continual decline in an investment. Some like minded quotes:
“The first rule is not to lose. The second rule is not to forget the first rule.” – Warren Buffett
“Whenever I buy or sell something , I always try and make sure I’m not going to lose any money first … my basic advice is don’t lose money. ” – Jim Rogers
“A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.”
-Jessie Livermore in “Reminiscences of a Stock Operator”
-Jessie Livermore in “Reminiscences of a Stock Operator”
“I am always thinking about losing money rather than making money.” -Paul Tudor Jones
