on Investing

Read the Wealthy Barber – it’s clear, it’s concise, and it’s almost fun. Besides no one else covers the basics quite as well. (Physics Professor, c.1997)

Invest in what you know – pick industries and companies you’re familiar with. You’ll have a better time understanding the valuation and strength of the business. (Motley Fool c.1998)

Don’t invest in what you don’t know – really a better way of reading the above. Don’t even think of getting into a stock until you know enough to be a customer (or better yet an owner). (me, c.2001)

When everyone starts giving advice, run! – A cabbie once started giving me advice on buying tech stocks. I dumped most of mine that day. It was 2001. (me, c.2001)

Take your stake off the table – if you get ahead. Only invest with the profits from then on. You’ll at least keep what you started with. This applies to gambling as well.(unknown)

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