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Index
Contents
About the Author
Introduction
The ‘wow’ moment
When the best fail
How this book is structured
Part I : I’m Losing – What Should I Do?
1. The Rabbits: Caught in the Capital Impairment
Jumping in
What the Rabbits did wrong
What the Rabbits could have done differently
It’s all about capital impairment
The lessons of poker
2. The Assassins: The Art of Killing Losses
Never lose money
The code of the Assassins
Don’t sell too soon
Be careful on your next investment
An elusive cadre
3. The Hunters: Pursuing Losing Shares
Success starts from failure
Snatching victory
Hunting for the compounding effect
The advantages of a Hunter
A rare investing style
Conclusion to Part I
Part II: I’m Winning – What Should I Do?
4. The Raiders: Snatching at Treasure
Investing on the edge of ruin
Why do investors sell too soon?
Why you shouldn’t sell early
Is it ever right to sell a winner?
Too professional
Why was one Raider such a successful hedge fund manager?
Resisting the raid
5. The Connoisseurs: Enjoying Every Last Drop
How to ride winners
Clues from the Forbes rich list
Why many fund managers are doomed to fail
Academic support for ‘best ideas’ investing
Dangers of being a Connoisseur
Are you ready to be a Connoisseur?
Conclusion: The Habits of Success
A dinner to remember
The Winner’s Checklist: The five winning habits of investment titans
1. Best ideas only
2. Position size matters
3. Be greedy when winning
4. Materially adapt when you are losing
5. Only invest in liquid stocks
The Loser’s Checklist: The five losing habits of most investors
1. Invest in lots of ideas
2. Invest a small amount in each idea
3. Take small profits
4. Stay in an investment idea and refuse to adapt when losing
5. Do not consider liquidity
Publishing details
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