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Big Mistakes: The Best Investors and Their Worst Investments

Big Mistakes: The Best Investors and Their Worst Investments

Michael Batnick

ISBN: 978-1-119-36655-3

Jun 2018

192 pages




A Must-Read for Any Investor Looking to Maximize Their Chances of Success

Big Mistakes: The Best Investors and Their Worst Investments explores the ways in which the biggest names have failed, and reveals the lessons learned that shaped more successful strategies going forward. Investing can be a rollercoaster of highs and lows, and the investors detailed here show just how low it can go; stories from Warren Buffet, Bill Ackman, Chris Sacca, Jack Bogle, Mark Twain, John Maynard Keynes, and many more illustrate the simple but overlooked concept that investing is really hard, whether you're managing a few thousand dollars or a few billion, failures and losses are part of the game. Much more than just anecdotal diversion, these stories set the basis for the book's critical focus: learning from mistakes. These investors all recovered from their missteps, and moved forward armed with a wealth of knowledge than can only come from experience. Lessons learned through failure carry a weight that no textbook can convey, and in the case of these legendary investors, informed a set of skills and strategy that propelled them to the top.

Research-heavy and grounded in realism, this book is a must-read for any investor looking to maximize their chances of success.

  • Learn the most common ways even successful investors fail
  • Learn from the mistakes of the greats to avoid losing ground
  • Anticipate challenges and obstacles, and develop an advance plan
  • Exercise caution when warranted, and only take the smart risks

While learning from your mistakes is always a valuable experience, learning from the mistakes of others gives you the benefit of wisdom without the consequences of experience. Big Mistakes: The Best Investors and Their Worst Investments provides an incomparable, invaluable resource for investors of all stripes.

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Chapter 1
Benjamin Graham

There Are No Iron-Clad Laws

Chapter 2
Jesse Livermore

Manage Your Risk

Chapter 3
Mark Twain

Don’t Get Attached

Chapter 4
John Meriwether

Genius’s Limits

Chapter 5
Jack Bogle

Find What Works for You

Chapter 6
Michael Steinhardt

Stay in Your Lane

Chapter 7
Jerry Tsai

You’re Not As Smart As You Think

Chapter 8
Warren Buffett

Beware of Overconfidence

Chapter 9
Bill Ackman

Get Off Your Soapbox

Chapter 10
Stanley Druckenmiller

Hard Lessons Can Be Necessary

Chapter 11

The Risks of Concentrated Investing

Chapter 12
John Maynard Keynes

The Most Addictive Game

Chapter 13
John Paulson

You Only Need to Win Once

Chapter 14
Charlie Munger

Handling Big Losses

Chapter 15
Chris Sacca

Dealing With Regret

Chapter 16
Michael Batnick

Looking In the Mirror

About the Author