Sticking with what works

Professional investors (particularly traders, with emphasis on the upper tier of commodities fund managers) know how to cut their losses, and they know how to double down on their winners as well. Entrepreneurs and business managers can certainly learn from this (myself included, as decision making has often been driven by curiousity and passion versus pure quantitative logic – and that’s coming from an accountant.

I have learned it can work for catching fish: Two days in a row, same spot, same rig…

samefish.jpg
Same fish (identified by two unmistakable white marks on his back).

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