“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be a more productive than energy devoted to patching leaks.”

Warren Buffett on dealing with losing investments

Not all of your investments are going to be winners. Buffett has picked stocks that turned out to be losers on many occasions. It’s how you deal with your losing investments that determines your success:

• “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be a more productive than energy devoted to patching leaks.”