1.To never believe in what a bank investment adviser says - a two day course to get a licence just won't cut it any more.
2. Never ignore systemic risk (although, when we bottom in a few years or so, that risk might be very small for the next couple of decades)
3. Never believe in the decoupling theory especially when your major customers live in a country riddled by a corrupt, communist regime.
4. Run like hell whenever a banker, CEO or politician says that everything is ok.
5. To disagree with those who say, "money is not everything", because that saying implies that money is not one of the most important things in life. Money is very, very important because it represents freedom and time. Years of work and saving have been destroyed (or lost) and, for many, their choices for the future are limited.
6. To feel humble that I steered clear of all of the above by luck of timing, a slightly cynical attitude and spending hours on research. It doesn't make me feel smart - there has been too much damage done to family and friends for me to feel anything but sad.
