Three tenets my father suggested I should follow when it came to...

Three tenets my father suggested I should follow when it came to gambling [horses,stock market, et al]. Never bet odds on with horses, never average down in the stock market and never, ever run upstairs backwards.I went against his first two recomendations and lost money on both over time. I asked him at the time that I did not quite understand the third suggestion in the scheme of the other two. He just told me to think about it. I have been thinking about it for over 25 years now, and have never tried to do it. I don't think I ever will. As a footnote, I have purchased this stock at over $2 and not long after started averaging down. I managed to bite the bullet and sold for an average of about 95 cents.