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'You Need Grit to Quit' – Knowing When to Walk Away With Annie Duke
Stansberry Investor Hour
Planning for the Quit
In his new book, Richard Thaler talks about the importance of having a plan. He says if we have inflexible plans, we won't quit no matter what; it's very hard for us to do that because of some cost fallacy. So he suggests adding flexibility into your plan by adding in "now and unless" If you don't achieve your goal, that means you failed: this is why building flexible plans is important.
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