Let me stop to issue rules based on the chapter so far. (i) Look for optionality; in fact, rank things according to optionality, (ii) preferably with open-ended, not closed-ended, payoffs; (iii) Do not invest in business plans but in people, so look for someone capable of changing six or seven times over his career, or more (an idea that is part of... See more

Hedge fund manager, Yuval Taylor, of Fieldsong Investments wrote an interesting book sharing some of his thinking and processes that led to his 46% CAGR, 8-year track record, in smallcap and microcaps. You can read the full book here at no cost. A snippet of some wise advice is in the scree... See more