By
Borsgade
In a recent interview, Joel Greenblatt emphasized that becoming a successful investor requires hands-on experience and, inevitably, losing money along the way.
Joel acknowledged that while investors sometimes profit unexpectedly due to luck, the most valuable lessons come from analyzing mistakes and navigating unpredictable events, such as the COVID-19 pandemic. He stressed the importance of investing with an amount that is meaningful to oneself and carefully examining losses to facilitate growth as an investor.
Reflecting on his own career, Joel humorously remarked that he and his partner, Rob, would have been fired multiple times for their mistakes if they had been employed elsewhere. His key takeaway is that investors must learn from their missteps, adapt their strategies, and continually progress in their investing journey.
[I]f we worked for someone else, we would have been fired at least three or four times. We made such enormous mistakes. So, you know, hang in there, learn from your mistakes, and move on.
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