BookWorm: What I Learned Losing A Million Dollars

There are as many ways to make money in the markets as there are people participating in the markets, but there are relatively few ways to lose money in the markets. For a majority of the people, all the losses come from the same few source. Jim Paul’s cautionary tale is a testimony to the importance of studying the patterns of failure than the ways of success.

The backdrop of this book is the true story of a trader called Jim Paul. His career in stock market started with a string of unusual successes that vaulted him from a dirt-poor country boy to jet-setting-millionaire. However, after 15 years of uninterrupted success, all of Jim’s wealth was wiped out in a matter of few weeks when he lost $1.6 million in a speculative trade. This devastating failure led him to intense self-reflection and discovery of some unusual insights about success and failure.

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