Walter Schloss, a legendary value investor, shared with us about the key guiding principles that have led to his success. In the previous article, Schloss shared with us 3 crucial mistakes value investors should never ever make.
To summarize the first article, the crucial mistakes that you should never make are:
Don’t buy on tips for a quick move Don’t let your emotions affect your judgement Don’t be in too much of a hurry to sell
The underlying guiding principle to avoid the above three grave mistakes simply is that you must have an investment philosophy to keep you on track. Knowing your weaknesses and how susceptible you are to external influence is the first step to becoming a successful value investor.
Now, you are ready to dig deeper and uncover Schloss’s secrets to outstanding returns!
Getting the first thing right from the start 1. Price is the most important factor