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Thursday, March 17, 2011

Homework

I can't tell you the number of times in my youth, that I would show up to a class, I had not done my homework, I had not studied the material ... and yet somehow, I felt that it would be possible for me to 'pass the test'

During such times of market distress I think it's important for investors especially to remember that it's only during said times of distress that you discover whether or not you've truly done your due diligence.

I'm reminded of something that the financial blogger who goes by the handle "Dasan" once said in a post that I still revisit to this day ...

"Emotional strength is more important than intellectual prowess when it comes to playing poker, fighting wars, and investing in stocks." - Dasan, The Davian Letter, May 11, 2010

"If you don’t do your homework, you view a 5-minute 1000-point drop in the Dow as terrible. If you do you homework, you call it “a gift." - Dasan, The Davian Letter, May 11, 2010


That post of his I keep bookmarked in a little folder that is filed as: "Financial > Blogs > Great Posts to Keep for Review".

There are companies out there, who not only have a great balance sheet after the economic turmoil of the previous 3 years, but will weather this unfortunate storm very well.

Have you done your homework?

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