Investing: Losses Are Great Teachers

There is nothing like going broke to make you focus. I lost everything. I thought I was a really smart guy, I made wonderful investments, made a lot of money and then I said, "I will do that again!" And I got wiped out. That shows how little I knew at the time. But it taught me to be very careful, it taught me to make sure I knew what I was doing. And it also taught me that there has a lot of things I did not know about the markets.

Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.