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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: MrGreenJeans who wrote (1692)10/19/1998 1:15:00 PM
From: Lars  Read Replies (1) of 15132
 
MrGreenJeans,

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I am sure there are other mistakes that investors make that lead them to financial catastrophe. I would be willing to listen to what mistakes others think should be avoided...
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The greatest threat to achieving critical mass and then some is LISTENING TO ALL THE NOISE ABOUT THE MARKET.

One of my greatest challenges is reflecting on my information and making a decision. It is easy to suffer from data overload. My goal is to constantly focus on the basics. Why do I want to own this company? What are my expectations? Is this a LT or ST investment (most of mine are for the long term)? What would make me change my mind?

A great excercise to perform before buying or selling is to think backwards through your decision. I learned this from reading speeches given by Charlie Munger. Incredible advice imho.
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