Markets Magazine

Top Investors Share the Toughest Lessons They Had to Learn

No one gets good at financial decision-making without taking the risk of being wrong and then figuring out how to adjust.

Get a sharp investor talking for long enough, and their stories often become revealing. You’ll undoubtedly hear about their wins but also their most painful mistakes. We asked financial pros to tell us about experiences that left a mark—and, more important, what they managed to learn from them. Their responses have been edited for clarity and length.

What was your toughest lesson?