FYI: Good defense is more important than good offense not just on the football field, but on the investing field as well. Stocks experienced double-digit drawdowns in each of the last eleven decades, with the pain averaging -38%. Let’s take a look at some of the gains and losses to get a better feel of how debilitating these declines can be.
Regards,
Ted
https://theirrelevantinvestor.wordpress.com/2015/10/12/the-power-of-defense/
