The Navy paid us every two weeks, and the first night after payday six or seven poker games sprang up. By the following night, there were only one or two poker games. Much like money in the stock market, poker money migrated to the most proficient and well financed players, a group that usually included me. Observing occasionally, I noted how sailo

the source of most losses in the markets is people betting or gambling, as defined by the characteristics of their behavior, on a continuous-process risk activity.

I'd seen enough hitting behind the ball. By playing it safe, you can make a portfolio so pablum-like that you don't get any sizzle. You can diversify yourself into mediocrity. This sounds like heresy to many advocates of modern portfolio theory, but sticking our neck out worked for Windsor.I

Data has shown that 10 percent of angel investments generate 90 percent of the returns; not all angel investors are going to be lucky enough to have one of those home-run investments in their portfolio. While angel investing as an asset class generates good returns for investors, only a small number of angel investors will make exceptionally great