Hat tip to Market Folly for the reference. Robertson on Bloomberg:
“I think that if you really look at how to do a good record over the years, it’s not to make the huge amounts of money. It’s to avoid big losses. That’s the way to really make money over the years.”
“The first rule is not to lose. The second rule is not to forget the first rule.” – Warren Buffett
“Whenever I buy or sell something , I always try and make sure I’m not going to lose any money first … my basic advice is don’t lose money. ” – Jim Rogers
“A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.”
-Jessie Livermore in “Reminiscences of a Stock Operator”
“I am always thinking about losing money rather than making money.” Paul Tudor Jones
Any other good ones I am missing?