99 How to Invest Geoff Gannon
Last updated: Oct 14, 2023
Source: How to Invest When You Only Have an Hour a Day to Do It
A series of selected excerpts…
An hour a day of total focus
not a net-net approach
a focused approach
give up the idea of selling stocks
eliminate the idea of portfolio management
commit to identically sized positions
Never vary how much you put into a specific stock
There’s no point owning more than 20 stocks
commit to holding stocks for as long as possible
the ideal. You spend an hour a day – including weekend. You only hold 5 stocks. And you hold each of them for 5 years on average. That’s 365 hours of thinking for just one great idea.
You want great businesses that are having temporary problems.
You want a list of companies you might one day own.
Look for the predictable ones.
I like those companies in an industry who have the lowest EBIT margin variation.
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