No doubt about it. Buffett had rule #1: dont lose money.

It is not easy to pick winners and losers. A lot of effort foresight and research is required. I can assure you, I had my share of losers too. I dropped $11K into a small cable company that ended up as nothing. It basically went belly up.

The stock, ironically, still trades as a shell OTC which has it in my account. It is only worth a few bucks but I sit there and look at it.

Such is life.

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