I made my money by selling too soon.
Core idea
The core idea is that disciplined investors protect gains and avoid devastating losses by exiting profitable positions early instead of greedily waiting for the absolute peak.
Practical application
Apply this by setting clear profit targets, regularly taking partial profits, and resisting greed, so you lock in gains instead of holding too long and suffering avoidable losses.
Why it matters
The special insight is that enduring investment success comes from disciplined profit-taking and risk control, not perfectly timing tops, because avoiding large losses matters more than capturing every last gain.
