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Managers and corporate executives can become too attached to a project and personalize it, and they are susceptible to the losses due to psychological factors
Brendan Moynihan • What I Learned Losing A Million Dollars
only paid attention to the opinions and the news that confirmed my position in the market.
Brendan Moynihan • What I Learned Losing A Million Dollars
One of the most incomprehensible features of a crowd is the tenacity with which the members adhere to erroneous assumptions despite mounting evidence to challenge them.
Brendan Moynihan • What I Learned Losing A Million Dollars
Are you trying to be right or to make money?
Brendan Moynihan • What I Learned Losing A Million Dollars
You must pick the loss side
Brendan Moynihan • What I Learned Losing A Million Dollars
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
amazon.com
running a business keeps you continuously exposed to the risks coincident with the commitment of resources to future expectations.
Brendan Moynihan • What I Learned Losing A Million Dollars
It is important to understand that they held on not because they wanted to look good, look smart, or be right. They held on because the position remained within previously defined and acceptable loss parameters.