- Measure risk: All investment evaluations should begin by measuring risk, especially reputational.
- Be independent: Only in fairy tales are emperors told they're naked.
- Prepare ahead: The only way to win is to work, work, work, and hope to have a few insights.
- Have intellectual humility: Acknowledging what you don't know is the dawning of wisdom.
- Analyze rigorously: Use effective checklists to minimize errors and omissions.
- Allocate assets wisely: Proper allocation of capital is an investor's No. 1 job.
- Have patience: Resist the natural human bias to act.
- Be decisive: When proper circumstances present themselves, act with decisiveness and conviction.
- Be ready for change: Accept unremovable complexity.
- Stay focused: Keep it simple and remember what you set out to do.
Full Disclosure: No position in the aforementioned securities. See a list of all my Dividend Growth Portfolio holdings here.
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