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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Merritt who wrote (6336)	1/18/1999 2:20:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 9719

Merritt: I completely agree with your philosophy. Just because a decision turned out bad, doesn't mean it was a bad decision. We are always dealing with imperfect information. We all make decisions that in retrospect look dumb. Some of them in retrospect were dumb, and we need to learn from these so as not to make them again. However I am reminded of a great quote by the famous trader Victor Niederhoffer that went something along the lines of: "I never make the same mistake twice. Unfortunately each mistake has thousands of close relatives, and just I make one of those instead." Peter