What to do in a euphoric market? 10 tips from Wall Street’s ‘Super Mario’

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There is no substitute for experience in investing. Plus, while patience is key, one needs to be aggressive when the time is right in order to swing it big. Those are the tips for investing success from the ‘Super Mario’ of Wall Street. The legendary investor, Mario Gabelli, says patience and experience are the two most important qualities that make a great investor. “Experience can be industry-specific that allows one to anticipate trends and changes before they occur. Or it can be experience of investing in general,” says the billionaire investor and founder of GAMCO Investors (GBL), well known for the invention of the Private Market Value methodology. Gabelli also says successful investors are the ones who make plenty of mistakes, but have the ability to learn from them. “Typically, successful investors are those who have made plenty of mistakes and have been able, or were lucky enough, to weather the consequences and learn from them," he said in an interview with
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