At a recent talk I gave, I was asked about the worst trade I ever made and what I learned from it. I learned a heck of a lot, let me tell you. Back during the dot-com boom, nearly two decades ago when I was just three years into my career, I bought shares of an online sports video company called Quokka. Don't bother looking it up. It doesn't exist anymore. It streamed live niche sporting events and signed a deal to broadcast Olympic sports like kayaking and others that wouldn't be shown on network television. It had cool technology, but as a business, it was garbage. This was also the time before everyone had broadband. Almost everyone had dial-up internet. So watching video was difficult. I knew that. But like so many people during those go-go days of the internet, I planned on owning the shares just for a little while and then selling for a nice profit. | 
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