Chapter 10. The Way Ahead
10.1 Never stop improving
“The big difference between those who are successful and those who are not is that successful people learn from their mistakes and the mistakes of others.”
Sir John Templeton88
Successful investors constantly evolve and improve. As time goes on, all this progress adds up to quite a lot. This book is just the beginning of that journey. The hard part is continuing the journey.
Active investing means experimenting and inevitably making mistakes. There is no way to avoid this. As Joel Greenblatt commented, “Some things you have to learn by doing them wrong, so I encourage people to risk being wrong. You can’t be a good investor without investing.”89
Do not be afraid to experiment and to try new ...