How to Be Successful in the Market All the Time

Only about 12% of the days in a calendar year actually contribute to the major trend. That's pretty much, I think that's kind of like an 80-20 rule. People don't talk about that. It's never mentioned on CBC ever. And so when you ask them or when you hear Charlie Munger talk about that level of loss, he's very adamant about it and say, well, this is what this is what it takes to have above average rate of returns.

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