Loss Minimization Quotes

Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.

I’ve learned many things from him [George Soros], but perhaps the most significant is that it’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.

It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.

I'm only rich because I know when I'm wrong.

I'm not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

I believe that many of my young guys lived because I didn't waste their lives because I didn't have the vision in my mind of how to destroy the enemy at least cost to our guys and to the innocents on the battlefields.

Alignment of business strategy and risk appetite should minimize the firm's exposure to large and unexpected losses. In addition, the firm's risk management capabilities need to be commensurate with the risks it expects to take.

As there is no worldly gain without some loss, so there is no worldly loss without some gain.... Set the allowance against the loss, and thou shalt find no loss great.

Superior leaders are willing to admit a mistake and cut their losses. Be willing to admit that you've changed your mind. Don't persist when the original decision turns out to be a poor one.

City government can and must help San Franciscans prepare for emergencies in order to avoid tragedy where possible and minimize loss of life and property when emergencies occur.

If you have made a mistake cut your losses as quickly as possible.

Take care to sell your horse before he dies. The art of life is passing losses on.

We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were wrong about something, in terms of why we did it, we exit, period.

(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss

A company has only so much money and managerial time. Winning leaders invest where the payback is the highest. They cut their losses everywhere else.