Realize that there are a relatively small number of truly outstanding companies. Your funds should be concentrated in the most desirable opportunities. Ten or twelve is usually a better number. An important ingredient of successful investing is to have more knowledge and apply your judgment after thoroughly evaluating specific situations. You should also have the moral courage to act against the crowd when your judgment tells you that you are right.
Sustained success requires skill and consistent application of sound principles.
Within the framework of my eight guidelines, I believe that the future will largely belong to those who, through self-discipline, make the effort to achieve it. I hope that you have enjoyed sharing the wisdom of Philip Fisher with me during my reports this week. If you'd like to continue this week's discussion or have any questions, please take them to our Cash-King Companies Message Folder linked below. Have a Foolish weekend. This will be reflected in the numbers as soon as possible.