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INVESTMENT ACADEMY

Number: 011 17 January 2005

Dear Hi ,

This week's investment wisdom comes straight from the pen of Steve Sjuggerud.

There's a lot for you to get

through, so let's crack on?

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The 50 timeless Rules Of Investing

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By Dr. Steve Sjuggerud

I sat down to write the "Timeless Rules of Investing" for you. In no time, I had 50 rules that I consider to be "investing gospel" - many of which were culled from the pages of my favourite investment books. If you stray from these rules, chances are you'll get into trouble.

Consider each rule carefully. There is a lot hiding behind these simple sentences. In many cases, entire books have been written on just one rule below.

Consider if you believe that rule, and why or why not. And honestly assess if you've broken that rule recently.

Finally, commit to making a change. Recognize when you're about to break one of these rules, and stop yourself. If you do that, I guarantee you will become a more successful investor.

The 50 RULES:

1. An attempt at making a quick buck usually leads to losing much of that buck.

2. If shares in general don't seem cheap, stand aside.

3. Buy and hold doesn't ALWAYS work.

4. Never throw good money after bad (don't buy more of a loser).

5. Cut your losers, and let your winners ride.

6. If the investment sounds too good to be true, it is.

7. Don't fight "the tape" (the trend.)

8. Don't fight interest rates.

9. Most shares that fall under £5 rarely see £10 again.

10. The best hot tip: there is no such thing as a hot tip.

11. Don't fall in love with your stock; it won't fall in love with you.

12. Don't have more than 3% AT RISK in any one position.

13. The trend is your friend until the end.

14. Trading options often leads to a quick trip to the poorhouse.

15. Bear-market rallies are often violent; giving the illusion the bull is back.

16. Low-priced shares don't double any faster than high-priced ones.

17. Valuations don't matter in the short run.

18. When a stock hits a new high, it's not time to sell. Something is going right.

19. Have a rose garden portfolio (don't trim your roses while your weeds fester).

20. It takes courage to be a pig (don't settle for taking 10% profits).

21. Not selling a stock for a gain, simply because you're afraid of the taxes, is a bad idea.

22. Avoid limited upside, unlimited downside investments.

23. When all you're left with is hope, get out.

24. Don't keep losing money just to "prove you are right." Nobody cares.

25. Forecasts are useless.

Down Under halsningar