In expert tennis, 80% of the points are won, while in amateur tennis, 80% are lost. The same is true for wrestling, chess, and investing: Beginners should focus on avoiding mistakes, experts on making great moves.
—Eric Falkenstein
by RightAttitudes.com
Eric Falkenstein is an American economist and investor. His writing focuses on quantitative issues in finance viz., risk management, long/short equity investing, default modeling, etc.
Falkenstein received a doctorate in economics from Northwestern University and is currently a investment manager at Pine River Capital Management.
More: Wikipedia • READ: Works by Eric Falkenstein
In expert tennis, 80% of the points are won, while in amateur tennis, 80% are lost. The same is true for wrestling, chess, and investing: Beginners should focus on avoiding mistakes, experts on making great moves.
—Eric Falkenstein