The Most Important Word in Investing

Hey everyone, Dylan Jovine here with Behind the Markets. It’s Thursday, August 29th, and I'd like to take a moment and shout out the FAU students who I hear have been watching these videos. I'll let you in on what I believe is the most important word in investing, and after 30+ years in the field, I can tell you that word is "no."
In investing, you have to be comfortable saying no 99% of the time. There are four critical questions I ask before making any investment: Do I understand the business? Am I comfortable with management? What is the business worth? And what do I have to pay? If I don’t fully understand the business, I pass. This might mean missing out on big opportunities, like when I passed on Acme Packet in 2003, but it’s a strategy that’s served me well over the years.
It’s crucial to develop your own system and stick to it. Every great investor I know is highly selective, only swinging at pitches that are right in their strike zone. I’ll be sharing more of these hard-earned lessons over the coming weeks, especially for those new to investing. Have a wonderful day!
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