“There are two times in a man’s life when he should not speculate: when he can’t afford it, and when he can.”

—Mark Twain

If risk weren’t a vital part of investing, you wouldn’t need this book. We might all be contented billionaires. Obviously, that’s not the case. If you want to be a savvy investor, the most important thing you can do is gain a basic understanding of risks and how to successfully deal with them.

Throughout this book you will read anecdotes about investors who ran into trouble in one way or another. Almost all that trouble involved the risks they took. In fact, almost everything that can go wrong with your investments involves the risks you choose to take with your money. This is a choice you make ...

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