For those with long term records, how much permanent loss?

[racemize]

Hi All, after looking over Pabrai's record and hits or misses, it seems as though the requirement of 2-3x in 2-3 years mostly works, but when it doesn't, it can be quite painful.  Rather than simply looking at Pabrai's history, however, I'd like to get input from investors with long-term, high return records (let's say >15-20%).

 

1) How often are you wrong? (e.g., thesis was not correct, and had to exit at break-even or loss)

2) How often are you wrong and it causes significant loss, e.g., >50% permanent loss?

3) How volatile are is your yearly performance (e.g., lows and highs)?

 

Thanks in advance!