…Continued from yesterday…

This is the third in a series of articles about the 23 winning investment habits of the world’s wealthiest investors including Warren Buffet, George Soros, and others that began March 12, 2007 with the article entitled “Habits of the World’s Master Investors”.

II. Create and Consistently Apply Your Own Method

1. Develop and rely on your own investment philosophy, criteria and method(s) (3).
2. Develop and test your own personal system for selecting, buying and selling (4).
3. Wait until your entry criteria are fully satisfied before investing. When your criteria are not yet fully satisfied, refuse to enter into the investment (8).
4. Be patient waiting for investments that fully satisfy your criteria (10).
5. Search only for investments that meet your criteria and do so continuously. Accept only advice from experts you respect and ignore opinions of others (9).

6. Act instantly to enter an investment when you find one that fully satisfies your criteria (11).
7. Hold your investment until your predetermined exit criteria is fully satisfied (12).
8. Consistently follow your investment philosophy, criteria and method(s). Don’t hesitate or second guess yourself (13).
9. Get out of investments entered into by mistake as soon as you notice the mistake (14).

continued tomorrow ...

Copyright 2007 Raymond T. Lee. All rights reserved.
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