raytoei (96.31)

A couple of points gleaned from Francis Chou's Investing lecture 2005

June 13, 2007 – Comments (0)

I spent an hour or so listening/watching Francis Chou's 2005 lecture at The University of Western Ontario, ( you can watch it here:  http://www.bengrahaminvesting.ca/Resources/audio_video.htm ). A couple of point he raised that is worth mentioning:

* For new investors, having a company checklist is important, this may include performance, management, industry and financial metrics. Some of Francis Chou's past mistakes came about due to psychology reasons (fear & greed) and not adhering to the checklist. 

* Watching a basket of companies is preferred to evaluating just one company. When evaluating a company, do not pass judgement quickly, because it will be harder to mentially convince yourself that the initial assessment is incorrect. 

* The most important lessen Francis Chou learnt in business is to have integrity. The most important lesson he learnt about investing is BennyG's Margin of Safety. 

cheers!

raytoei