The worst mistake investors make is taking their profits too soon, and their losses too long.

Overbuying of China stocks was obvious in the last two weeks. Investors are taking profits gradually, but some are still chasing laggards such as commodity stocks.

The telephone stocks had a good run at the start of the week, so investors are taking their profits.

Investors are sitting on profits in Mexico and are taking them now, given the nervousness in Argentina. I do not think this signals a fundamental change in the long-term trend in Mexico.

I find it unfair that I am being punished three different times for making the mistake of taking steroids once in 2003,

It is a socialist idea that making profits is a vice; I consider the real vice is making losses.