Philip Fisher's Developing an Investment Philosophy is much better than 'Common Stocks, Uncommon Profits', simply because it's short and has a followable chain of ideas. He proposes that you should treat investing like investigative reporting (page 5), as you are seeking for the actual value of a company, when all other see is a mess (page 15). Your investigations will be vastly helped along if you understand the company and the industry in which it operates. But if you investigate your company's competitors also, you should have a good understanding of the industry, otherwise, walk away (page 28). Finally, he lists three groups of factors which make for a good company: Functional, People, and Business (page 45). This guy could have been a business guru if he weren't too busy making money off the market.

Woke up this morning from a vivid dream playing soccer, I was driving down the field. When I passed the first opponent, I met another who paced me closely, snagging my arm. After dragging him for 30s, I finally got free, but was too winded to do anything.

Covered in bed-sweat, I hopped in the shower where I got really mad about a basketball game I played when I was in fourth grade. Then, I finally realized that I was absolutely not in control of my brain. I calmed down and tried to figure out what's going on. Lots of anger about the past implies lots of anger about the present that I don't feel like facing. Not facing something indicates fear. Which is pretty true, this weekend, I'm going to try something, which will either validate my efforts for the last 6 years or not. Very scary.

A bunch of years back, I took a week off for a skate-visit with my friend Mike in Atlanta. He had some pretty slick spots mapped out as he was local. One of the spots had some plastic jersey barriers that provided multiple days of fun, but they were not labeled with a manufacturer. Yesterday, I found one that was labeled "MAP 1500", which a quick google found Sherwin Industries.

At a business forum yesterday, I found out that:

  1. Local bankruptcy court docs are now online.
  2. I should join HYP. We'll see, It is statistically improbable that they're all lushes.
  3. Helmuth von Moltke said No plan survives first contact with the enemy.