I also agree with the greater part of this article. After a good deal of deliberation I have sorted out methodologies for buying and risk management which work very well for me. Best of all a process which recognises and dumps losers in short order not only saves money but also time which itself is very precious. To lose months or years waiting for a value stock to come good is to my mind a huge gamble. When I make a mistake I am more than happy to recognise the fact because my loss is minimised in terms of both cash and time and I can move on promptly. Most fund managers despite fine words cannot recognise when they have made a mistake and are loath to do anything about it when they do. So apart from a very funds which I trade in and out of, I am damned if they are getting any of my money.