What Experience Taught Donald Trump
January 19, 2013 Leave a comment
“Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you’re generally better off sticking with what you know. And the third is that sometimes your best investments are the ones you don’t make.” -Donald TrumpBecome The Expert
January 13, 2013 Leave a comment
“To succeed in business, to reach the top, an individual must know all it is possible to know about that business.”- J Paul Getty
Dealing With The Shortcomings Of The Human Brain
February 21, 2011 2 Comments
Since we can’t overcome the tendency of the human brain to make mistakes while working through heuristics , here is a list of things we can do to reduce the effects of the shortcomings of the human brain.The more we can incorporate these points into our investing procedures and systems , the better the quality of our returns.The checklist is form Whitney Tilson’s ‘How to Avoid – and Profit From – Manias , Bubbles and Investor Irrationality’.
•Be humble–Avoid leverage, diversify, minimize trading
•Be patient
–Don’t try to get rich quick
–A watched stock never rises
–Tune out the noise
–Make sure time is on your side (stocks instead of options; no leverage)
•Get a partner
–someone you really trust –even if not at your firm Read more of this post
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