Inflexibility is normally seen as being irrational.

The book uses the example of the CEO who has a no tolerance policy towards eating dessert. He can easily wait for the dessert to arrive and then refuse to eat it. Instead, he always makes it a point to ensure that the dessert was struck off the menu even if it already part of a paid set meal.

For the past 15 years, I have also used inflexibility as an investment strategy. No matter how attractive the stock was, I will not invest in it unless it gives out a decent dividend which is pegged at around 6% for my core portfolio and 4% for my CPF assets. This was because I’d like to be paid for holding onto my counters.

This policy has not been easy to follow.

I read a lot of brokerage reports and knew that stocks like Best …