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“I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.”

Edwin Lefèvre, Reminiscences of a Stock Operator
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Reminiscences of a Stock Operator Reminiscences of a Stock Operator by Edwin Lefèvre
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