Friday, February 15, 2013


1. Time horizon is one year, not one day
2. Sangfroid wins.  Equanimity is more important than anything else
3. Make my own decisions; listen to myself
4. When I sell a long, consider a 180 and shorting it (and vice versa)
5. Don’t buy a stock right ahead of an earnings call
6. Listen to analysts only for potential stock ideas- and do my own work
7. Don’t agree and don’t argue (when I differ in opinion)
8. Be humbly confident at all times.  Say “I got lucky this time”
9. Act without full information, while doing efficient work
10. Learn every day- build a new sheet - read filings- listen to calls
11. Don’t worry too much about what the crowd thinks 
12. Don’t waste too much time on big Macro
13. “Sometimes you have to let the other guy make some money too”
14. Worrying is not doing
15. Focus on The Game