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Big Mistakes
book

Big Mistakes

by Michael Batnick
June 2018
Beginner content levelBeginner
192 pages
4h 4m
English
Bloomberg Press
Content preview from Big Mistakes

CHAPTER 13John PaulsonYou Only Need to Win Once

Quit while you're ahead. All the best gamblers do.

—Baltasar Gracian

Ask somebody what they would wish for if a genie appeared before them and having a lot of money would be a top answer. But “be careful what you wish for” is a cliché for a very good reason.

William “Bud” Post III won $16.2 million in the Pennsylvania lottery in 1988 and upon his death in 2006, he was living off Social Security payments of about $450 per month.1 Evelyn Adams also won the lottery. Twice. Despite winning a total of $5.4 million, 20 years later she was broke and living in a trailer.2 These stories are not just anecdotal. They are far more common than you would think; nearly one‐third of all lottery winners lose ...

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Publisher Resources

ISBN: 9781119366553Purchase book