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How to Make a Million – Slowly by John Lee

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Chapter 7

My mistakes

Every investor needs to be upfront and honest about their mistakes. As I said in Chapter 2, as an investor you should take a loss and move on. In this chapter I’m going to tell you about my investing errors and show you what I learned, and what you can learn from them.

My mistakes fall into two clear categories: stocks sold far too soon and individual stocks just sadly misjudged. It is the former category which unquestionably has been the more costly. However, in mitigation I have to make the point that with limited capital for many years, my policy was to take profits, probably pay CGT and use the net proceeds both to provide the extras in my life, such as holidays, antiques and paintings, and to generate new resources ...

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