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The Billion Dollar Mistake
Book

The Billion Dollar Mistake

Learning the Art of Investing Through the Missteps of Legendary Investors

Stephen L. Weiss
Wiley, 2010

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8

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Recommendation

You might expect that legendary billionaire investors like Kirk Kerkorian, Aubrey McClendon and Nick Maounis would not make the same mental mistakes as a weekend investor. But they do. These investment geniuses, among the world’s smartest – and richest – investors, have lost billions of dollars through boneheaded stock picks. Author Stephen L. Weiss reviews a stack of big investment blunders by these and other renowned financial wizards. Weiss’s vast Wall Street experience backs up his analysis, but you’ll have to decide if he’s correct that people learn more from their mistakes than their achievements. getAbstract thinks you’ll enjoy his instructive saga of investment woes.

Take-Aways

  • The bedrock investment rule: Don’t make mistakes. You can learn what not to do by studying the stock-picking errors of famous investors.
  • For instance, brilliant investor Kirk Kerkorian blew millions buying Ford at the wrong time.
  • You also can learn how not to repeat your own investment mistakes.

About the Author

Stephen L. Weiss has worked on Wall Street for decades and is a senior managing director and head of equities at Leerink Swann, LLC.

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