Every now and then I lose patience with some of my stocks. I see other folks trading in and out of the same stocks that I have held on to steadfastly because I believe they are under-valued. I start to wonder if i should engage in a bit of trading. At such times, I find it comforting to read material that will keep me true to the discipline of value investing.
Here is such material. The below is taken from a presentation made by Zeke Ashton who runs Centaur Capital Partners.
1. Resist the Urge to Speculate
2. Don’t Lose Money
3. Valuing Businesses is the Key
4. Build a Circle of Competence
5. Wait for the Perfect Pitch
6. Make the Market Your Servant
7. Be an Absolute Return Investor
8. When in Doubt, Hold Cash
9. Know When to Sell
10. Many Ways to Investor Heaven
Entire presentation is available here