Simple Rules for a Complex Market

by | Aug 14, 2004 | POLITICS

Although investing is a subtle and complicated endeavor, everyone can benefit from a simple set of rules and principles. One of my favorite portfolio managers, Thomas K. Brown, chief executive of Second Curve Capital, a New York hedge fund that specializes in financial stocks, recently sent clients a little booklet called “My Ten Rules,” guidelines […]

Although investing is a subtle and complicated endeavor, everyone can benefit from a simple set of rules and principles. One of my favorite portfolio managers, Thomas K. Brown, chief executive of Second Curve Capital, a New York hedge fund that specializes in financial stocks, recently sent clients a little booklet called “My Ten Rules,” guidelines for building “a long-term successful track record.”

Brown was inspired by an excellent 2002 tome, “The Global-Investor Book of Investing Rules,” in which Philip Jenks and Stephen Eckett compiled advice from 150 professional sages, including Marc Faber, the Hong Kong bear; Ralph Wanger, founder of Columbia Acorn fund (LACAX), one of the great small-cap funds; and Bill Gross, the bond guru.

Some of Brown’s rules are obvious, others a bit technical. I have picked the five I like most and added comments.

Ambassador Glassman has had a long career in media. He was host of three weekly public-affairs programs, editor-in-chief and co-owner of Roll Call, the congressional newspaper, and publisher of the Atlantic Monthly and the New Republic. For 11 years, he was both an investment and op-ed columnist for the Washington Post.

The views expressed above represent those of the author and do not necessarily represent the views of the editors and publishers of Capitalism Magazine. Capitalism Magazine sometimes publishes articles we disagree with because we think the article provides information, or a contrasting point of view, that may be of value to our readers.

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