“An investment operation is one, which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative.” - Benjamin Graham
Tuesday, July 24, 2007
Psychology of Intelligence Analysis
I highly recommend everyone to read all the chapters of this publication, entitled The Psychology of Intelligence Analysis, posted for free on the CIA website. As I have been reading through this, I have learned a lot more about the way the mind works and the limitations it can put on ourselves. There are a lot of parallels between the recommendations this book makes and the characteristics needed for successful value investing.
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