Monday, October 6, 2014

Some great fundamental guidelines from Munger

Forbes has a very good article on the recent Daily Journal Annual Meeting with Charlie Munger.

You can read the article here.  To get the most out of it, I would suggest multiple rereading.

I have distilled the following fundamental guidelines insofar as relevant to investing, with the caveat that this is not exhaustive:

1.       Pick your spots;
2.       Know your limits;
3.    Easy does it;
4.       Be patient;
5.       Act decisively when the time comes.

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