What I learned from the best investors in the world.
1. Charlie Munger about the first $100k:
2. Peter Lynch :
All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don't work out.
3. Joel Greenblatt:
Buy good companies (high ROC) that are cheap (high earnings yield) .
Greenblatt's Magic Formula returned 33% per year to shareholders.
4. John Templeton
Invest. Don't trade or speculate.
5. Benjamin Graham
Don't overpay.
The intelligent investor is a realist who sells to optimists and buys from pessimists.
6. François Rochon
Focus on companies with high margins and high returns on capital.
Time in the market beats timing the market.
7. Warren Buffett:
1. Buy good companies 2. Don't lose money 3. Always think for yourself 4. Don't overpay 5. Be patient
Every challenge or setback you encounter presents an opportunity to unravel a puzzle.
By successfully resolving these puzzles, you acquire valuable principles, which, in turn, equip you to prevent comparable issues and failures in the future.
2. Be radically open-minded
Look for the truth, even if it's tough to accept.
• What have I overlooked?
• What's not right with my work?
• Do I have sufficient knowledge about this topic to form an opinion?
Put aside your pride and use feedback for personal growth.