According to Jim Rogers there is nothing like almost going broke to make you focus. That is what happened to him in the 1970s when he shorted six stocks and the trade went badly against him. Margin calls forced him to sell out of his position with no equity left.
That experience taught Rogers how little he really knew about what he was doing and that he had to operate going forward more carefully and with more humility.
Rogers considers himself lucky to have had this experience when he was young and didn't have very much to lose.
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