Tips by Spencer Davidson

I don’t believe everything is either a buy or a sell – some things are worth holding to stay connected to the company and learn more about it....
We typically have 50 to 60 positions. It’s not more concentrated out of prudence and humility. There’s always a chance we’ll be wrong on any...
An early mentor of mine started out during the Depression and used to always say we were in the rejection business – that we’re paid to be cynical...
It’s important to play to your strengths. As an investor, I’m not a home-run hitter and can’t think of a lot of securities on which I’ve made...
Over a long career you learn a certain humility and are quicker to attribute success to luck rather than your own brilliance. I think that makes you a...
It’s important to realize that the brain isn’t programmed like a computer, and that every individual can approach problems and issues in a unique...