Thread by @BrianFeroldi

I've been investing for 18+ years

I've made TONS of mistakes along the way

Here are 10 critical investing lessons I wish I could teach my younger self:

1/ Stock prices & business profits are not at all linked in the short-term, but they are 100% linked in the long-term

Watch the business, not the stock

2/ It's a FAR bigger mistake to sell a mega-winner early than it is to hold a mega-loser too long

3/ Compounding pays off the most in the out-years

Optimize for longevity first, everything else second

4/ In the beginning, focus the vast majority of your effort on boosting your income & savings rate

5/ Analysis paralysis is real

Once you know enough, decide

6/The P/E ratio is only useful when a company is fully optimized for profits (stage 4)

It's most deceiving in stages 3 & 5

7/ If you rarely sell, your portfolio will concentrate itself

8/ Invest with CEOs that under-promise and over-deliver

Avoid CEOs that do the inverse

9/ Stop-loss orders should really be called Stop-Compounding Orders

10/ "Do nothing" is almost always the right move

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Last one.

As much as I love investing, always remember that your real most valuable assets are: