"Cash is an asset in a portfolio" The Investment University
Forecasting
"Before wasting time on any forecast, ask yourself what is the track record of the forecaster. The forecasts of the gold price, USD, interest rates, global GDP, stock markets etc by the major investment banks are generally useful only for their comic value. In any other industry such experts would become industry outcasts" The Investment University
Keep Stock Valuations Simple
"Valuation is a range not a number" The Investment University
Hitting Home Runs
"Invest like Moneyball, get on base" The Investment University
Efficient Markets
"The greatest Investment Master of our time thinks the Efficient Market Hypothesis is garbage. Most Business Schools study the Hypothesis not the Master" The Investment University
Asymmetry
"It’s Asymmetry that’s Beautiful in Investing" The Investment University
Herds, Crowds and Contrarians
"The Investment Masters are the only crowd you should follow" The Investment University
Volatility
"Volatility is NOT risk. Volatility creates opportunities" The Investment University
Absolute Return
"Only an Absolute Return Focus is Consistent with the First Rule of Investing: Preserve Capital" The Investment University
Stock Prices
"Stock prices don't always reflect value" The Investment University
Diversification
Reading
"The Investment Masters read" The Investment University
Investment Masters
"To Understand the Arts you Study the Great Masters and History. You don’t study how to hold a paintbrush. Investing is no different" The Investment University
