What My Worst Trades Taught Me About Investing
Losing money on Wall Street can be profitable in the long run.
Bloomberg, September 4, 2021.
In a career filled with other bad trades, missed opportunities and judgment errors, some decisions stand out, not just for the lost money — although it adds up to tons of that — but rather, for the lessons learned.
I go into bloody detail in the full column, but here is the overview:
Apple at $15 (pre splits; post splits its apple at 26.78 cents per share;
Robinhood’s 2015 seed round: Todays market cap is $37 billion, but in 2014-15, it was ~ $100 million.
Behavioral insight: “Ugh.” When your first reaction to a trade idea is visceral disgust, ask yourself how much bad news is already priced in.
Short the market: There is a right way and wrong way to be short.
You can read the full column here.