“Once I adopted a more humble attitude and started to respect the trends, things got better…”

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The biggest challenge I have faced is switching from a “buy & hold, averaging down” to a “cut my losses quick and extend my gains” approach. This is very hard for fundamental-based portfolio managers, because we tend to have the illusion that we know stuff. “O know the company”. “This negative price action doesn’t make sense, so I will take advantage of this drop to increase my position”.

Once I adopted a more humble attitude and started to respect the trends, things got better. But I’m still doing very basic, intuitive stuff. There is still a long way to go.

Regards,
Fabio

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