Know When to Fold 'Em
Investors and gamblers have much in common. Both apply their skills and hunches in search of gains, but often suffer losses instead. But one of the most difficult dilemmas they face is not where to place their bets, but what to do in the face of good fortune. When a bet or investment is showing major gains, the decision to Hold or Fold can be the most difficult of all. I was recently reminded of an incident from the 1970’s that shed light on this oft faced dilemma. My fat