This is surely just a ramble. I did not even know whether to call it learning, rules, diktats, …or just a ramble by an old investor, but hey here it is….

• Make mistakes – write down what went wrong, make quick small mistakes, laugh at them, make it when you are young, and most importantly learn from them.
• Write down the learning – from investing, losing, friends, reading,….and keep a nice notebook for the same.
• Understand conflict of interest – broker, blogger, adviser, …their agenda and your agenda may not match
• Choose your area of work, and enjoy the same – the pleasure gives you the energy required to succeed
• Be Intellectually competitive by choosing an amazing array of friends
• Choose complete idiots, very sharp people, chess players, equity analysts, salesmen, lawyers, entrepreneurs (failed or successful) as friends and see your thinking improve
• Get friendly with people who criticize you
• A person who claims to be my friend bad mouths me, and now I am enjoying it !!
• Make brave decision based on 80% information and 20% gut
• Review decisions based on information
• Never argue with the truth, it does not work
• Teach your kids investment reviews and use their services – so that they learn and you improve
• Your kids are great at killing your ego, encourage them to do so, nobody else does it so well
• When an idiot is criticizing you, concentrate on the criticism, you KNOW he is an idiot, don’t judge him every day
• Trust your intuition. Verify performance.
• Make tentative investments, but on confirmation buy real big
• Don’t waste time investing 1% of your liquid net worth, does not help, it should be at least 5%
• When you trade size of the trade should be worth your time..