For most people, the fear of loss is much greater than the desire for gain. - Tony Robbins

The problem is that the managers of the mutual funds make more money when they gather huge piles of assets and charge high fees. The high fees are in direct conflict with the goal of producing high returns. And so what happens over and over again is the profits win and the investor seeking returns loses.

Like anyone who succeeds, he never took it for granted that he knew it all. He constantly evaluated whether what he was doing was working or not. If it wasn’t, he immediately moved to step four.

The mystic poet William Blake once wrote, “The man who never alters his opinion is like standing water and breeds reptiles of the mind.