Baffling stuff., page-32

It's not very hard actually it's just that everyone learns how to do it wrong.
I had a sharp learning curve as I don't have any financial training so learnt to read annual reports on the fly. It's pretty easy to pick out only the very strong ones once you learn the bad ones by taking some losses which yes I did take.
I was dumb and overconfident.
But I haven't had a loss on an investment since 2009, excluding temporary paper losses not real paper losses like SGH. Maybe we just need another financial crisis to put paid to my hubris but I don't think so. In fact that would be a wonderful opportunity as stocks are presently overpriced.
Warren Buffett hasn't taken a loss for a lot longer than me and he's no genius.