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Montier’s seven immutable laws of investing
The principles are: 1. Always insist on a margin of safety 2. This time is never different 3. Be patient and wait for the fat pitch 4. Be contrarian 5. Risk is the permanent loss of capital, never a number 6. Be leery of leverage 7. Never invest in something you don’t understand Montier concludes as follows: “I hope these seven immutable laws help you to avoid some of the worst mistakes, which, when made, tend to lead investors down the path of the permanent impairment of capital.” Click here for the full report (free registration is required). Source: James Montier, GMO, March 2011. | |||||||||||
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