Use book value as a starting point to try and establish the value of the enterprise.
Be sure that debt does not exceed 100% of the equity.
Don't buy on tips or for a quick move.
Don't sell on bad news.
Don't be afraid to be a loner but be sure that you are correct in your judgement.
Try to look for weaknesses in your thinking.
Don't be in too much of a hurry to sell.
Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value.
Be aware of the level of the stock market. Are yields low and PE ratios high?
I find it helpful to buy near the low of the last few years.
Fear and greed are probably the worst emotions to have in connection with the purchase and sale of stocks.
Devise a simple strategy so you can sleep at night.
Make sure you have the courage to stay true to your convictions and not let the market affect your emotions.
If you can stare hard at your problems, they almost always shrink or disappear, because you almost always find a better way of dealing with them than if you don't face them head on. The more difficult the problem, the more important it is that you stare at it and deal with it.
Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.
By and large, life will give you what you deserve and it doesn't give a damn what you like. So it is up to you to take full responsibility to connect what you want with what you need to do to get it, and then to do those things.
Once you accept that playing the game will be uncomfortable, and you do it for a while, it will become much easier (like it does when getting fit). When you excel at it, you will find your ability to get what you want thrilling.
You'll see that excuses like "That's not easy" are of no value and that it pays to "push through it" at a pace you can handle. Like getting physically fit, the most important thing is that you keep moving forward at whatever pace you choose, recognizing the consequences of your actions.
I believe that for the most part, achieving success - whatever that is for you - is mostly a matter of personal choice and that, initially, making the right choices can be difficult.
People who worry about looking good typically hide what they don't know and hide their weaknesses, so they never learn how to properly deal with them and these weaknesses remain impediments in the future.
Since the only way you are going to find solutions to painful problems is by thinking deeply about them - i.e., reflecting - if you can develop a knee-jerk reaction to pain that is to reflect rather than to fight or flee, it will lead to your rapid learning/evolving.
There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.
I believe that understanding what is good is obtained by looking at the way the world works and figuring out how to operate in harmony with it to help it evolve.
I have found that by looking at what is rewarded and punished, and why, universally - i.e., in nature as well as in humanity - I have been able to learn more about what is "good" and "bad" than by listening to most people's views about good and bad.
Though how nature works is way beyond man's ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
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