Buffet's 10 Tips to Get Rich
8. Know When to Quit
Once, when Warren Buffett was in his teens, went to the racetrack. He gambled on a race and lost. To get back with his funds, he bet on another race. He lost again which actually left him with nothing. He felt sick and wasted nearly a week's earnings. But Buffett learnt from this and never repeated any such mistakes. He says, “Know when to walk away from a loss, and don't let anxiety fool you into trying again.”
