In the following video, Motley Fool financial analyst Matt Koppenheffer discusses a quote from one of his favorite investing minds, Michael Mauboussin, about the difference between luck and skill, where he says that if you can lose on purpose, then the activity takes skill. Matt notes five things he would do if he wanted to lose money on purpose in his portfolio, and he gives us some takeaways for what these things teach us about making money.
Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Apple and owns shares of Apple, Bank of America, and Citigroup. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.