Investing for Growth is a compilation of Fundsmith’s annual letters and articles Terry Smith wrote for the Financial Times. Just a bit of background, Fundsmith is a UK-based fund that was founded by Terry Smith with a strategy focused on investing only in high quality businesses. Fundsmith has a track record of 18.1% p.a since […]
1. Experience may not be a good teacher Most elderly who died in Hurricane Katrina dies not because of their health, but because of confidence and denial. They have survived several hurricanes over their lifetime, so they believe Hurricane Katrina is no exception. Experience can create a close attitude that prevents us from seeing things […]
PDF Version *** In Warren Buffett’s 1965 partnership letter, he gave us a glimpse on how to think about capital allocation: “The question always is, “How much do I put in number one (ranked by expectation of relative performance) and how much do I put in number eight?” This depends to a great degree on […]
PDF: http://bit.ly/2loVH3U *** “Investing is like a piece of Lego brick that fits tightly with other Lego bricks to create a big solid structure. Those other Lego bricks are your family, career, relationship and so on. That big, solid structure is your life.” Introduction Position sizing or how much to put into a stock is as […]