Ace Greenberg Trading Wisdom

Ace Greenberg on his mentor Bernard J. “Bunny” Lasker:

Lasker: “If it goes up a point, buy more. If it goes up another point, call me. If it goes down two points, sell it.”

Greenberg: “This sane, simple advice — unload losers, ride winners — became a source of enduring mystery to me: Why didn’t more investors embrace it? And why did so many, Cy Lewis included, do just the opposite?” He had the self-subverting unwillingness to take losses.”

Ace Greenberg in The Rise and Fall of Bear Stearns

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