I can empathize with Steve Wynn, the multibillionaire founder of Wynn Resorts (NASDAQ:WYNN), who recently poked a hole in his $139 million Picasso masterpiece, La Reve. And I'm not saying that because I once poked a hole in a friend's super-sweet velvet Elvis painting with a pool cue after consuming a few too many beers in college.

On Tuesday, you see, I selected NVE (NASDAQ:NVEC) to underperform in my Motley Fool CAPS profile. Two days later, the company reported that its revenues had increased 44%, and the stock spiked 25%.

As my standing in the CAPS ratings plummeted, my reaction was quite similar to Wynn's. (His response to his blunder was reportedly succinct, colorful, and four letters long.) But like Wynn, I didn't panic. I stayed calm and assessed my options. I had made a mistake in underestimating NVE's growth, but after I reviewed my rationale for rating the stock as an underperformer for next 12 months, I calmed down. Like Wynn, I knew the situation wasn't as dire as it first appeared.

As I have written before, NVE is selling its products in the medical-device area. The company's great promise, though, lies in the field of computer memory. To date, however, I have seen nothing to convince me that FreescaleSemiconductor (NASDAQ:FSL) or any other company intends to license NVE's Spintronic technology. As such, it's difficult for me to comprehend how the company can continue to trade at its current levels.

A second lesson that can be learned from Wynn's experience is that assets -- be they paintings or stocks -- can be put back together, even after they have sustained a serious hit. (Wynn is having his masterpiece restored by an expert in New York.)

I thought of this lesson in relation to another stock in my CAPS portfolio, UnitedHealth (NYSE:UNH). I believe it's still a great company, and I'm confident that it will recover from Bill McGuire's resignation and the ongoing investigation into its stock options fiasco. How soon, and to what extent, is simply difficult to assess.

This brings me to the third lesson. It's important to remember that investing -- like art collecting -- is a long-term game. Wynn first bought La Reve in 1994 for $48 million. Before damaging it, he had agreed to sell it to hedge-fund manager Steven Cohen for $139 million. It is now unlikely to fetch that amount, but it will still return a healthy profit, should he decide to resell it.

I hope he doesn't, though, because the story alone is priceless -- not to mention the lessons that accompany it.

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Fool contributor Jack Uldrich couldn't tell a Monet from a Manet, but he does have an appreciation for money. He owns stock in UnitedHealth. The Fool has a strict disclosure policy.