A Dozen Things I’ve Learned from Dr. Michael Burry about Investing | 25iq

A Dozen Things I’ve Learned from Dr. Michael Burry about Investing | 25iq: When Burry says: “Lost dollars are simply harder to replace than gained dollars are to lose” it is another way of saying what Warren Buffett has said many times: “The first rule of investing is: don’t lose money; the second rule is don’t forget Rule No. 1.” Joel Greenblatt agrees: “Look down, not up, when making your initial investment decision. If you don’t lose money, most of the remaining alternatives are good ones.” Seth Klarman writes in his book of the same name: “A margin of safety is achieved when securities are purchased at prices sufficiently below underlying value to allow for human error, bad luck, or extreme volatility in a complex, unpredictable and rapidly changing world.”