Big Mistakes
By Michael Batnick
The Best Investors and Their Worst Investments. Bloomberg Press, 2018.
Summary of Big Mistakes book by Michael Batnick
A revealing account of the times when the most experienced financial experts on Wall Street made failed investments, and how you can avoid making the same mistakes while managing your own portfolio.
Chapters in Big Mistakes book summary
What do you get from this book? The financial blunders bright investors made so you can avoid doing the same
Businesses set value, and people set price—understanding the difference is key
Beware the bargain, as it can come with a sting—cheap stock can always get cheaper!
Risks are part of investments, whether you’re a newbie or a seasoned investor
It doesn’t matter how intelligent or skilled you are, luck and chance determine the outcome
Keep your eye on the ball—don’t go off into ventures you don’t understand
Beware the comfort of overconfidence—it can quickly create downfalls in investments
For investment success, focus less on riches and more on trying not to lose
You can be right for a prolonged period—but the tide can and will turn at any time
Don’t quit too early—patience can be a virtue when investing
Making mistakes is just part of the job when you’re an investor
Summary of the key insights
Selected critiques in brief
Final word
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Big Mistakes — Book Summary Snapshot
Who should read Big Mistakes book
- entrepreneurs
- business analysts
- anyone who is thinking about investing in stocks
About the author of Big Mistakes
Michael Batnick
Michael Batnick is Director of Research at Ritholtz Wealth Management, a registered investment advisor firm. His company has offices nationwide. In his capacity as a member of the investment committee, Batnick takes care of the construction of client portfolios. He has been a CFA charter holder since 2015.
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