Everything You Need to Know About Finance and Investing in Under an Hour; William Ackman

While there is a certain schadenfreude felt by many regarding esteemed hedge fund manager Bill Ackman's losses this year, notably in his VRX long position, losses are an integral part of any speculator's life.

This is a reality to be faced, confronted, even embraced in terms of taking stop-loss and position sizing discipline head-on, as we do inside Market Chess Subscription Services on a daily basis, rather than quietly sweeping it under the rug. The reason why the latter approach is so perilous is because, as Ed Seykota famously said, "If you cannot take a small loss, then sooner or later you will take the mother of all losses."  

So while it remains to be seen how the VRX and HLF sagas end for Ackman, there is no denying his brilliance and accomplishments, heretofore, on top of his cogent presentation of financial concepts and theses. 

I posted his video presentation, below, around this time last year. I believe it is worth posting once a year and is a great educational tool.