. "And one of the worst things that can happen to investors [is] thinking that luck is skill."
Unfortunately, the jubilation that propelled the technology bubble — and Cassel's portfolio — to new peaks was on its last legs. Soon, it would all come crashing down — and Cassel's capital wouldn't be spared. Many of the companies Cassel had originally purchased morphed into micro caps during the bust. Although he was laden with losses, the lessons he learned in the unwind wound up laying the foundation for his journey forward.
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