David Dreman is one of the famous value investors. He is the founder and Chairman of Dreman Value Management. He laid out 41 rules for value investing in his book, Contrarian Investment Strategies.

Rule #1: Do not use market-timing or technical analysis. These techniques can only cost you money.

Rule #2: Respect the difficulty of working with a mass of information. Few of us use it successfully. In-depth information does not translate into in-depth profits.

Rule#3: Don’t make an investment decision based on correlations. All correlations in the market, whether real or illusory, will shift and soon disappear.

Rule #4: Tread carefully with current investment methods. Our limitations in processing complex information correctly prevent their successful use by most of us.

Rule #5: There are no highly predictable industries in which you can count on analysts’ forecasts. Relying on these estimates will lead to trouble.

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