Big Mistakes: The Best Investors and Their Worst Investments

Michael Batnick

The worst trades of the greatest investors, and why losing is the fee rather than the verdict.

Batnick collects the worst decisions of investors everyone treats as infallible — Graham, Keynes, Buffett, Druckenmiller — and shows what each got wrong and why. The argument is consoling and useful at once: if the greatest investors lost badly and repeatedly, then losses are the price of participating rather than evidence you should not be here.

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