The Rules, Part 1: Buy and Hold
The Rules, Part 1: Buy and Hold Before the strategy, the discipline. You can know all the right methods and still lose because you couldn't stay out of your own…
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The Rules
First Principles of Investing
Before strategy comes philosophy. These posts cover the principles that apply to every form of investing — the discipline, patience, and process that determine whether any approach succeeds or fails. Start here before anything else.
Part 1
Part 2
The Rules, Part 2: The Magic of Compounding
Start early. Stay patient. Let time do the work that no strategy, no stock picker, and no fund manager can replicate. In Part 1, I made you a promise. I…
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The Rules, Part 3: Minimize Friction
The Rules, Part 3: Minimize Friction You can start early. You can stay patient. You can let compounding run. And still — silently, invisibly — fees and taxes can eat…
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The Rules, Part 4: Reinvest Your Dividends
The Rules, Part 4: Reinvest Your Dividends The dividend check feels like a reward. It is. But cashing it might be the most expensive thing you ever do with it.…
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The Rules, Part 5: Don't Try to Time the Market
Everyone who has ever invested has had the thought: "Maybe I should wait. Maybe now isn't the right time." Most of the wealth destroyed in investing comes from acting on…
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The Rules, Part 6: Don't Fall in Love With a Stock
Holding too long past the point of reason isn't patience. It's attachment. And attachment has no place in a portfolio. In Part 1, I told you that buy-and-hold is one…
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The Rules, Part 7: Being Wrong Less Often
The Rules, Part 7: Being Wrong Less Often The goal is not to never be wrong. That is not available. The goal is to build a process that is wrong…
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The Rules, Part 8: Know What You Own
Most investors have no idea what they own. They have a list of ticker symbols, a brokerage balance, and a vague sense that things are going up or down. That…
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The Rules, Part 9: Only Own Wealth Creators
There is one test that sits above every other. A business either creates wealth for its owners, or it destroys it. There is no middle ground. You have learned eight…
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