--- title: "Meaning & Key Takeaway of: We try not to have many investing…" description: "\"We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were wrong about something, in terms of why we did..." image: "https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png" --- # We try not to have many investing 'rules,' but there is… ![“We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were wrong about something, in terms of why we did it, we exit, period.” quote by David Einhorn](https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png) [Download](https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png) [Open image](https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png) > “We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were wrong about something, in terms of why we did it, we exit, period.” [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Admitting mistakes quickly and exiting a position prevents larger losses and preserves capital. **In simple terms:** Accept errors, exit fast. Key Takeaway Exit promptly when wrong. Themes risk management discipline investment strategy Mood cautious analytical Type advisory practical When to use this quote - trading decisions - portfolio rebalancing - investment committees Key Concepts behavioral finance loss aversion Questions to Reflect On - What signals would justify staying despite a mistake? - How can you differentiate a temporary error from a fundamental flaw? A Different Perspective May overlook deeper analysis before exiting. ★ ★ ★ ★ ★ No ratings yet [Decide Wrong](https://sms4smile.com/quotes/about/decide-wrong-510925/) [Did Exit](https://sms4smile.com/quotes/about/did-exit-510928/) [Exit](https://sms4smile.com/quotes/about/exit/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investing Rules](https://sms4smile.com/quotes/about/investing-rules-510926/) [Rules](https://sms4smile.com/quotes/about/rules/) [Rules Served](https://sms4smile.com/quotes/about/rules-served-510927/) [Something](https://sms4smile.com/quotes/about/something/) [Try](https://sms4smile.com/quotes/about/try/) [Us](https://sms4smile.com/quotes/about/us/) [Wrong](https://sms4smile.com/quotes/about/wrong/) ## Related quotes > [People will say a lot bad about you, they'll give you terrible titles but nothing can effect you and your identity…and you only can…](https://sms4smile.com/quotes/senoraroy/people-will-say-a-lot-bad-about-you-they-ll-give-you-terrible-titles/) [Senoraroy](https://sms4smile.com/quotes/author/senoraroy/) > [We all have choices to make in life. And when we decide to go down that wrong road we'd be better off backing up…](https://sms4smile.com/quotes/tim-donaghy/we-all-have-choices-to-make-in-life-and-when-we-decide-to-go-down/) [Tim Donaghy](https://sms4smile.com/quotes/author/tim-donaghy/) > [My instinct about painting says, 'if you don't think about it, it's right.' As soon as you have to decide and choose, it's wrong.…](https://sms4smile.com/quotes/andy-warhol/my-instinct-about-painting-says-if-you-don-t-think-about-it-it-s/) [Andy Warhol](https://sms4smile.com/quotes/author/andy-warhol/) > [I'm not someone who will make a decision in haste and let loneliness decide the wrong partner for me.](https://sms4smile.com/quotes/shamita-shetty/i-m-not-someone-who-will-make-a-decision-in-haste-and-let-loneliness/) [Shamita Shetty](https://sms4smile.com/quotes/author/shamita-shetty/) > [“One of my Dad's pet sayings was, "Let's decide something, even if it's wrong." That inner default setting of action over inaction, of fearlessness…](https://sms4smile.com/quotes/cindy-hoedel/one-of-my-dad-s-pet-sayings-was-let-s-decide-something-even-if-it-s/) [Cindy Hoedel](https://sms4smile.com/quotes/author/cindy-hoedel/) > [“Heck, everything we decide will be wrong," said Step, "because no matter what we do, something bad will happen later. So I refuse to…](https://sms4smile.com/quotes/orson-scott-card/heck-everything-we-decide-will-be-wrong-said-step-because-no-matter/) [Orson Scott Card](https://sms4smile.com/quotes/author/orson-scott-card/) > [Sometimes In LIFE, It's Difficult To Decide What's Wrong,,, A LIE That Brings A SMILE Or The TRUTH That Brings A TEAR...](https://sms4smile.com/quotes/pacifiersucker/sometimes-in-life-it-s-difficult-to-decide-what-s-wrong-a-lie-that/) [Pacifiersucker](https://sms4smile.com/quotes/author/pacifiersucker/) > [... anything is better than indecision. We must decide. If I am wrong, we shall soon find out and can do the other thing.…](https://sms4smile.com/quotes/ulysses-s-grant/anything-is-better-than-indecision-we-must-decide-if-i-am-wrong-we/) [Ulysses S. Grant](https://sms4smile.com/quotes/author/ulysses-s-grant/) > [Out of the dragon's claws and into the fire, there's a moment in every man's life when he must decide what is wrong and…](https://sms4smile.com/quotes/bryan-adams/out-of-the-dragon-s-claws-and-into-the-fire-there-s-a-moment-in-every/) [Bryan Adams](https://sms4smile.com/quotes/author/bryan-adams/) > [It is easy to decide on what is wrong to wear to a party, such as deep-sea diving equipment or a pair of large…](https://sms4smile.com/quotes/anonymous/it-is-easy-to-decide-on-what-is-wrong-to-wear-to-a-party-such-as-deep/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Scotland forms a crucial part of our Armed Forces which should not be jeopardised by rushed cuts or a rush to the exit from…](https://sms4smile.com/quotes/philip-hammond/scotland-forms-a-crucial-part-of-our-armed-forces-which-should-not-be/) [Philip Hammond](https://sms4smile.com/quotes/author/philip-hammond/) > [Now it is autumn and the falling fruit and the long journey towards oblivion. The apples falling like great drops of dew to bruise…](https://sms4smile.com/quotes/d-h-lawrence/now-it-is-autumn-and-the-falling-fruit-and-the-long-journey-towards/) [D. H. Lawrence](https://sms4smile.com/quotes/author/d-h-lawrence/) > [I would just like to point something out to you: the exit.](https://sms4smile.com/quotes/green-monk/i-would-just-like-to-point-something-out-to-you-the-exit/) [Green Monk](https://sms4smile.com/quotes/author/green-monk/) > [We will finally complete the biometric entry-exit visa tracking system, which we need desperately. For years Congress has required biometric entry-exit visa tracking systems…](https://sms4smile.com/quotes/donald-trump/we-will-finally-complete-the-biometric-entry-exit-visa-tracking/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [Pentagon records show that at least 8,000 members of the all-volunteer U.S. Army have deserted since the Iraq war began. Hey, at least somebody…](https://sms4smile.com/quotes/tina-fey/pentagon-records-show-that-at-least-8-000-members-of-the-all/) [Tina Fey](https://sms4smile.com/quotes/author/tina-fey/) ## More by David Einhorn > [On my best days, I fancy myself a combination of Dad's persistence/patience and Mom's toughness/skepticism.](https://sms4smile.com/quotes/david-einhorn/on-my-best-days-i-fancy-myself-a-combination-of-dad-s-persistence/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [In an industry that celebrates personal sacrifice as a symbol of commitment, you might not consider 'making sure everyone gets home for dinner' to…](https://sms4smile.com/quotes/david-einhorn/in-an-industry-that-celebrates-personal-sacrifice-as-a-symbol-of/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [I rooted for the Milwaukee Brewers and its stars, Robin Yount and Paul Molitor. I went to a lot of games, including the World…](https://sms4smile.com/quotes/david-einhorn/i-rooted-for-the-milwaukee-brewers-and-its-stars-robin-yount-and-paul/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [Ive got a fantasy-baseball team with my brother. But I have to admit, he does all the work.](https://sms4smile.com/quotes/david-einhorn/ive-got-a-fantasy-baseball-team-with-my-brother-but-i-have-to-admit/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [I worked in investment banking for two years. I was in a program where they kind of just owned you. And you - I…](https://sms4smile.com/quotes/david-einhorn/i-worked-in-investment-banking-for-two-years-i-was-in-a-program-where/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [When you leave a good job to go off on your own and don't expect to make money for a while, you name the…](https://sms4smile.com/quotes/david-einhorn/when-you-leave-a-good-job-to-go-off-on-your-own-and-don-t-expect-to/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [We believe in constructing the portfolio so that we put our biggest amount of money in our highest-conviction idea, and then we view the…](https://sms4smile.com/quotes/david-einhorn/we-believe-in-constructing-the-portfolio-so-that-we-put-our-biggest/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [We never invent new reasons to continue with a position when the original reasons are no longer available.](https://sms4smile.com/quotes/david-einhorn/we-never-invent-new-reasons-to-continue-with-a-position-when-the/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [There's more at risk in what happens in Microsoft than I could ever bet on a poker table.](https://sms4smile.com/quotes/david-einhorn/there-s-more-at-risk-in-what-happens-in-microsoft-than-i-could-ever/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [Most of the time, when someone tells you something, and it makes sense, it just makes sense. And that's that. But sometimes it really…](https://sms4smile.com/quotes/david-einhorn/most-of-the-time-when-someone-tells-you-something-and-it-makes-sense/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [Both poker and investing are games of incomplete information. You have a certain set of facts and you are looking for situations where you…](https://sms4smile.com/quotes/david-einhorn/both-poker-and-investing-are-games-of-incomplete-information-you-have/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [I've got a fantasy-baseball team with my brother. But I have to admit, he does all the work.](https://sms4smile.com/quotes/david-einhorn/i-ve-got-a-fantasy-baseball-team-with-my-brother-but-i-have-to-admit/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [A 99% Value-at-Risk calculation does not evaluate what happens in the last one percent... This is like an airbag that works all the time,…](https://sms4smile.com/quotes/david-einhorn/a-99-value-at-risk-calculation-does-not-evaluate-what-happens-in-the/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [One of the best investors around, Joel Greenblatt, has written a popular, charming and funny book about investing in great companies at low P/E…](https://sms4smile.com/quotes/david-einhorn/one-of-the-best-investors-around-joel-greenblatt-has-written-a/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half.](https://sms4smile.com/quotes/david-einhorn/what-do-you-call-a-stock-that-s-down-90-a-stock-that-was-down-80-and/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) [Explore all 42 David Einhorn quotes ](https://sms4smile.com/quotes/author/david-einhorn/) ## More Exit quotes > [Pentagon records show that at least 8,000 members of the all-volunteer U.S. Army have deserted since the Iraq war began. Hey, at least somebody…](https://sms4smile.com/quotes/tina-fey/pentagon-records-show-that-at-least-8-000-members-of-the-all/) [Tina Fey](https://sms4smile.com/quotes/author/tina-fey/) > [We will finally complete the biometric entry-exit visa tracking system, which we need desperately. For years Congress has required biometric entry-exit visa tracking systems…](https://sms4smile.com/quotes/donald-trump/we-will-finally-complete-the-biometric-entry-exit-visa-tracking/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [I would just like to point something out to you: the exit.](https://sms4smile.com/quotes/green-monk/i-would-just-like-to-point-something-out-to-you-the-exit/) [Green Monk](https://sms4smile.com/quotes/author/green-monk/) > [Now it is autumn and the falling fruit and the long journey towards oblivion. The apples falling like great drops of dew to bruise…](https://sms4smile.com/quotes/d-h-lawrence/now-it-is-autumn-and-the-falling-fruit-and-the-long-journey-towards/) [D. H. Lawrence](https://sms4smile.com/quotes/author/d-h-lawrence/) > [Scotland forms a crucial part of our Armed Forces which should not be jeopardised by rushed cuts or a rush to the exit from…](https://sms4smile.com/quotes/philip-hammond/scotland-forms-a-crucial-part-of-our-armed-forces-which-should-not-be/) [Philip Hammond](https://sms4smile.com/quotes/author/philip-hammond/) > [We will finally complete the biometric entry-exit visa tracking system which we need desperately. For years Congress has required biometric entry-exit visa tracking systems,…](https://sms4smile.com/quotes/donald-trump/we-will-finally-complete-the-biometric-entry-exit-visa-tracking-2/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [The exit polls suggest that after a relatively disappointing first term, Obama managed to reassemble almost all of his 2008 electorate.](https://sms4smile.com/quotes/john-podhoretz/the-exit-polls-suggest-that-after-a-relatively-disappointing-first/) [John Podhoretz](https://sms4smile.com/quotes/author/john-podhoretz/) > [Young women who have experienced commercial sexual exploitation and domestic trafficking face an incredible climb as they try and exit the commercial sex industry…](https://sms4smile.com/quotes/stephanie-ellis/young-women-who-have-experienced-commercial-sexual-exploitation-and/) [Stephanie Ellis](https://sms4smile.com/quotes/author/stephanie-ellis/) > [Our training pushes us to develop a new set of instincts: instead of reacting to danger with a fight-or-flight adrenaline rush, we're trained to…](https://sms4smile.com/quotes/chris-hadfield/our-training-pushes-us-to-develop-a-new-set-of-instincts-instead-of/) [Chris Hadfield](https://sms4smile.com/quotes/author/chris-hadfield/) > [Well, just remember--all your misery will be waiting for you at the door upon your exit, should you care to pick it up again…](https://sms4smile.com/quotes/elizabeth-gilbert/well-just-remember-all-your-misery-will-be-waiting-for-you-at-the/) [Elizabeth Gilbert](https://sms4smile.com/quotes/author/elizabeth-gilbert/) > [“Every second and every minute of the clock, we are getting closer and closer to our various destinations.”](https://sms4smile.com/quotes/michael-bassey-johnson/every-second-and-every-minute-of-the-clock-we-are-getting-closer-and/) [Michael Bassey Johnson](https://sms4smile.com/quotes/author/michael-bassey-johnson/) > [I would never kill myself intentionally. I couldn't do that to my family, my friends ... But to have fate step in and give…](https://sms4smile.com/quotes/martha-manning/i-would-never-kill-myself-intentionally-i-couldn-t-do-that-to-my/) [Martha Manning](https://sms4smile.com/quotes/author/martha-manning/) > [As we exit the E.U., there must be a new approach to immigration that has the consent of the British people and is managed…](https://sms4smile.com/quotes/keir-starmer/as-we-exit-the-e-u-there-must-be-a-new-approach-to-immigration-that/) [Keir Starmer](https://sms4smile.com/quotes/author/keir-starmer/) > [I have no intention of uttering my last words on the stage. Room service and a couple of depraved young women will do me…](https://sms4smile.com/quotes/peter-o-toole/i-have-no-intention-of-uttering-my-last-words-on-the-stage-room/) [Peter O'Toole](https://sms4smile.com/quotes/author/peter-o-toole/) > [In one way an oil boom is a mighty bad thing, because it gets into your blood and almost becomes an obsession. Booms are…](https://sms4smile.com/quotes/sue-sanders/in-one-way-an-oil-boom-is-a-mighty-bad-thing-because-it-gets-into/) [Sue Sanders](https://sms4smile.com/quotes/author/sue-sanders/) [Browse all 483 Exit quotes ](https://sms4smile.com/quotes/about/exit/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were wrong about something, in terms of why we did it, we exit, period.", "creator": { "@type": "Person", "name": "David Einhorn" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/david-einhorn/we-try-not-to-have-many-investing-rules-but-there-is-one-that-has/", "about": { "@type": "Thing", "name": "Exit" }, "@id": "https://sms4smile.com/quotes/david-einhorn/we-try-not-to-have-many-investing-rules-but-there-is-one-that-has/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png", "contentUrl": "https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png", "url": "https://sms4smile.com/quotes/i/657/david-einhorn-15617_exit_we-try-not-to-have-many-investing-rules_2443829.png", "width": 1080, "height": 1080, "caption": "“We try not to have many investing 'rules,' but there is one that has served us well: If we decide we were…” — David Einhorn", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "David Einhorn", "item": "https://sms4smile.com/quotes/author/david-einhorn/" }, { "@type": "ListItem", "position": 4, "name": "We try not to have many...", "item": "https://sms4smile.com/quotes/david-einhorn/we-try-not-to-have-many-investing-rules-but-there-is-one-that-has/" } ], "@id": "https://sms4smile.com/quotes/david-einhorn/we-try-not-to-have-many-investing-rules-but-there-is-one-that-has/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```