3min chapter

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#24: Fred Hickey On Trusting In Your Own Research And Experience

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Importance of Keeping Your Portfolio Small

I think a lot of people want to play the downside. They start shorting. Then they have the same experience that we've all had the first few times we've tried to short something, which is that unlimited losses is not a fun. But also, if you are going to use puts, keeping it to a size of your portfolio where you can expect that they all expire worthless and it's not going to hurt you too badly. And so this time around, obviously, with this bubble, I did it again in 2000 and I started getting aggressive. This time around, so even smaller still because I can't fund anything here at what was zero for sat rates or how much just a

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