Market veteran Steve Hanke says his best investment is a Patek Philippe watch he bought at 16 — and shares his biggest regret

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Steve Hanke, a market veteran, shared his best and worst investments with Business Insider for the debut edition of "Hits, Misses, and Millions."

A pocket watch and a parcel of farmland. Veteran trader Steve Hanke counts those two items among the best investments and biggest misses of his life. Hanke, 83, started trading soybeans at age 14, and he's been playing the currency and commodity markets ever since. The longtime professor of applied economics at Johns Hopkins University served as president of Toronto Trust Argentina when it was the world's best-performing emerging-market mutual fund in 1995. Hanke spoke to Business Insider for the debut story in our new "Hits, Misses, and Millions" series, in which we ask elite investors and business leaders to share their best and worst investments. Even top investors make painful mistakes.

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