The Seven Immutable Laws of Investing, by James Montier

All credit to www.gmo.com/America/CMSAttachmentDownload.aspx

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

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