Avertising the actual stock market, many traders and investors are experiencing an extremely difficult time.
"It's especially challenging because it's the first time that many have traded without a weak Federal Reserve providing a tailwind," says the head of the company.
Deporre calls the current stock market one of the most dangerous markets that many traders have ever encountered. "Yet many are not satisfied with the decisions and mistakes they have made as this bear market has unfolded," he adds.
Even the most successful traders and investors in the world are not immune to mistakes and a lack of discipline. "Even when they know what they should do, there are many times when they fail to do it and pay a heavy price," Deporre said.
Stanley Druckenmiller is widely considered to be one of the greatest investors of all time. "He's known for producing an average return of 30% per year for many years and not having any down years at his hedge fund," Deporre said.
In a 2015 interview, Druckenmiller described his most major investment mishap. It entailed in 2000 during the dot-com boom.
"So like around March, I had to re-sign. I couldn't help myself. Three times a week, I pick up a - don't do it. Anyway, I pick up the phone, again. I think I missed the top by an hour. I purchased $6 billion worth of tech stocks, and in six weeks, I had lost $3 billion in that one play."
Deporre noted that "you will make some minor mistakes." In addition, "you will do things that you know that you shouldn't. It isn't a lack of knowledge, it is a result of self-confidence and being human."
So, if you recognize and address this problem, then you can fix it. "Druckenmiller came back from his $3 billion loss because he discovered the issue, changed his strategy, and returned to work. "