Thread by @theBuoyantMan

This book "Education of a value investor" by @GSpier is a must read for everyone who wants to be a better investor.

From how superior self-awareness aids with investing process to how mentors and idols form a huge part of your growth in this field, this book has immense wisdom.

1. Use compound interest to your favor. Compounding at any rate consistently, year after year, your wealth increases over a period of time exponentially.

2. You can compound goodwill too. In this field, goodwill and relationships are of paramount importance.

3. Charlie Munger's talk - "24 standard causes of human misjudgement" - listen to this as many times as it takes for you to imbibe all the values in the talk.

4. Humans are irrational. And, the market runs on that irrationality. The rational few take the major pie of profits.

5. Tony Robbins has this concept called "Matching and mirroring" - where you pick someone who you consider an idol, and match and mirror that person's best characteristic traits that took them to the place they are in. Do this with every one of your idols.

Match and mirror your idols by studying their best traits. Those traits led them to become who they are and what they have become. This is the best and fastest way to better yourselves, in order to rise up to the level of your idols.

6. Don't invest unless you have done your research. Once invested, don't keep checking the stock price every day.

7. If someone tries to sell you something, don't buy. Be mindful of what you want in this field, and you don't need much materially to be successful in this field.

8. Don't talk to the management of the stocks you're considering investing in. That will only lead to creating bias. Whatever information you need to make an investment decision is outside of the board room.

9. Gather investment research in right order. Whatever process you use, stick to it and refine it as you gain experience.

10. Discuss your investment ideas only with people who have no axe to grind against you.

11. Never buy or sell stocks when the market is open.

Place your orders after the market close or before market open and let your orders get filled during market timings.

12. Don't talk about your current investments to anyone.

13. If a stock tumbles after you buy it, don't touch it for 2 years. If you have done significant research, followed your process, understood the business, and invested with conviction, you should sit tight and short term price movements shouldn't bother you.

14. Following your process is of paramount importance. Be strict about it. If you see something you like based on your process, invest. Otherwise build cash.