Tips by Ed Wachenheim

We don’t do a lot in technology. Successful technologies change something, creating an efficiency or demand that wasn’t there before. But the very...
It’s hard to have unique insights in this business, but they often just come from working on something that leads you to something else. I work with...
We value companies based on our estimate of earnings per share, usually two or three years out. I don’t look six months to a year out because too...
What works for us is between 10 and 20 positions. Owning more than 20 stocks, it’s too hard to follow the companies very closely, and a big winner...
Long periods of prosperity tend to breed overconfidence on the part of investors, which leads to a misassessment of risk. During times of excesses, we...
If you never make a mistake, you’re being too conservative and missing profit opportunities you shouldn’t.