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<br /> Ten golden rules<br /> of equity investing.<br /> A collection of insightful investment gems.<br /> <br /> Introduction<br /> Ten golden rules<br /> of equity investing.<br /> We have been investing for over thirty years. During this time we have<br /> weathered numerous and varied market cycles, and there is little that<br /> still surprises us. What we have learned has come to form the bedrock<br /> of our investment approach; and the guiding element behind this is<br /> simplicity. We strongly believe in the virtues of doing the basics well.<br /> We have distilled our insights from the world of investing into ten<br /> succinct rules. None of them should surprise and they all share<br /> one distinct trait: a belief in common sense. While the sentiment<br /> behind them is serious, we hope that you find this light-hearted<br /> presentation both refreshing and entertaining.<br /> Thanks to John Devolle for his wry and witty illustrations.<br /> Hugh Young<b<a title="Ten golden rules of equity investing page 1" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=1"> Ten golden rules of equity investing. A collectio</a> <a title="Ten golden rules of equity investing page 2" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=2"> </a> <a title="Ten golden rules of equity investing page 3" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=3"> Introduction Ten golden rules of equity inves</a> <a title="Ten golden rules of equity investing page 4" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=4"> </a> <a title="Ten golden rules of equity investing page 5" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=5"> Rule one Demand fair treatment of shareholders</a> <a title="Ten golden rules of equity investing page 6" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=6"> Rule two Be mindful that companies are about pe</a> <a title="Ten golden rules of equity investing page 7" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=7"> </a> <a title="Ten golden rules of equity investing page 8" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=8"> </a> <a title="Ten golden rules of equity investing page 9" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=9"> Rule three Remember, balance sheet strength i</a> <a title="Ten golden rules of equity investing page 10" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=10"> Rule four Understand what you’re buying. If </a> <a title="Ten golden rules of equity investing page 11" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=11"> </a> <a title="Ten golden rules of equity investing page 12" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=12"> </a> <a title="Ten golden rules of equity investing page 13" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=13"> Rule five Be wary of over-ambition. It is oft</a> <a title="Ten golden rules of equity investing page 14" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=14"> Rule six Think long term. Unless you need y</a> <a title="Ten golden rules of equity investing page 15" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=15"> </a> <a title="Ten golden rules of equity investing page 16" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=16"> </a> <a title="Ten golden rules of equity investing page 17" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=17"> Rule seven Benchmarks are just measuring devi</a> <a title="Ten golden rules of equity investing page 18" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=18"> Rule eight Take advantage of irrational behav</a> <a title="Ten golden rules of equity investing page 19" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=19"> </a> <a title="Ten golden rules of equity investing page 20" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=20"> </a> <a title="Ten golden rules of equity investing page 21" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=21"> Rule nine Do your own research. In the case</a> <a title="Ten golden rules of equity investing page 22" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=22"> Rule ten Make sure that any competitive advanta</a> <a title="Ten golden rules of equity investing page 23" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=23"> </a> <a title="Ten golden rules of equity investing page 24" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=24"> Conclusion So there you have it, ten gold</a> <a title="Ten golden rules of equity investing page 25" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=25"> Leaving it to the professionals. If you do have t</a> <a title="Ten golden rules of equity investing page 26" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=26"> Also available abe</a> <a title="Ten golden rules of equity investing page 27" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=27"> My investment rules checklist I demand</a> <a title="Ten golden rules of equity investing page 28" href="http://viewer.zmags.co.uk/publication/6ddf3166?page=28"> </a>