On The Importance Of Limiting Losses:
“Preservation of capital is the cornerstone of my business philosophy. This
means that, in considering any potential market involvement, risk is my prime
concern. Before asking ‘What potential profit can I realize?’, I first ask,
‘What potential loss can I suffer?’ “
— Victor Sperandeo, from
Trader Vic — Methods of a Wall Street Master,
(1991, John Wiley & Sons, New York).
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