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Wrong

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All investment advisors must accept, understand, and agree that on occasion they will be wrong because investing has being wrong built into it:

  • 'Wrong' investment decisions are not the primary reasons for investment failure:
    • 'Wrong' is not having investment selection and management disciplines.
    • 'Wrong' is not having portfolio management disciplines.
    • 'Wrong' is not having portfolio design and construction disciplines that define right and wrong.
    • 'Wrong' is not having price management disciplines in place resulting in doing nothing when right or wrong.