- Know what you own;
- It’s futile to predict the economy and interest rates;
- You have plenty of time to identify and recognize exceptional companies;
- Avoid long shots;
- Good management is very important – buy good businesses;
- Be flexible and humble, and learn from mistakes;
- Before you make a purchase, you should be able to explain why you’re buying;
- There’s always something to worry about.
Oftentimes, most obvious things are hardest to implement. Every single word in these rules in its own place as it says everything how to invest, most importantly – your time and energy.