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The importance of constant thought and risk management in investing
Investing is a tough game that requires constant thought, risk management, and worrying about what could go wrong. Even the best investors spend more time thinking about risks than potential gains. Selling or trimming positions, including Berkshire and Apple, should be done at the right price, considering tax efficiency and opportunity cost. It's important to have after-tax proceeds available to invest in the best opportunities. Investing requires not only technical knowledge but also the right mindset and temperament.