Different people have different things to share and different things to learn.
Below are the points I found interesting and useful.👇
Loved this section on "Check and re-check your reasons for owning a stock".
This section on "Know when to get out" is also good.
I especially liked the point on retaining the valuable industry/company knowledge you have even after selling the stock, since that could become useful again when the opportunities re-appear in the future. 👏
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Reading articles from the actual period (instead of books written after he was already widely famous) provides more interesting details on how his investing process evolved over the decades..
->Pure Balancesheet & Valuation based investing(50s/60s)
-> Purchases based on Intangibles/Brands & Moats (70s)
The Current Investing Landscape (article from Oct 2018, further elevated now)
Some good quotes
"Investment theses were formulated that described only the quality of the business and its growth prospects, but made no mention of the price and why it offered an attractive return."
Pat Dorsey's "The Five Rules For Successful Stock Investing" is probably a Top 5 investing book in my opinion (for long-term investors in individual stocks).
Here's an excellent summary by Amey Chheda @FinMedium 👏
The point of the thread is not to show off, but to share my experiences & general lessons with whoever is interested & applies to. Divided into the below sections.
Philosophy
Trends
Research
Thesis
Valuation
Financials
Buying
Holding, Maintenance
Selling
✔️My Philosophy
- Invest your Capital with the best Businesses & Mgmt Teams.
- Hold for longterm as long as the biz quality/strength are improving & intrinsic value is growing.
- Learn from mistakes & improve the process.
- Expect & take advantage of Volatility along the way.