3 Reasons why I am still a novice investor
This is the list of reason why I am still a novice investor.
Also, as you read down the list, you will discover why you should take a *huge* pinch of salt from my previous reports. If you already done so, I am gald that I am less guilty of the crime of misleading you.
3 Reasons why you should take a *huge* pinch of salt from my previous report:
1. I did not understand the business, in terms of:
- (a) The nature of the business and how the company generate its profits
- (b) Whether the company had a good history (at least 5 years) of generating profits and
- (c) Whether the company had a sustainable competitive advantage (by earning power / monopoly / etc)
2. I only looked at the latest year's financials. This is really unacceptable now that I know a little more about value investing. At least 5 years of history should be studied!
3. I did not research enough and I did not know the management personally. It is most important toinvest only with honest management with high integrity.
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