https://contrarianvalueedge.wordpress.com/2017/03/11/investment-philosophy-of-john-maynard-keynes/ (Also see attached PDF)
How to Learn: https://contrarianvalueedge.wordpress.com/2017/02/07/how-to-learn/
pdf:
Common Investing Mistakes: https://contrarianvalueedge.wordpress.com/2015/10/23/top-mistakes-by-investors/
Value Investing Vs Growth Investing and Sources of Permanent Wealth Destruction:
What can long term investors learn from Private equity investors: https://contrarianvalueedge.wordpress.com/2017/04/16/what-can-long-term-investors-can-learn-from-private-equityventure-capitalist/
Paul Sonkin - https://contrarianvalueedge.wordpress.com/2014/08/09/paul-sonkin-we-fish-deep-we-fish-alone/
Key Excerpts
"As a micro cap investor what you are looking for is something where it can grow against the industry returns or grow against negative economic trends.We buy established small and microcap companies with customers, revenues, and earnings. We look for companies with pristine balance sheets including large cash balances, good growth prospects, seasoned management, large product and customer bases, defendable competitive positions, , and high returns on capital which generates free cash flow"
"We are looking for companies that are unloved, there is no institutional sponsorship, there’s no analyst coverage"
"If we can identify a catalyst, we have an answer to the question of how we are going to make money, and also a sense of when that will happen. We earn money only when the gap between the discounted market price and the intrinsic value closes. We want this closing to be upwards; it does no good if the intrinsic value falls to the price of the security. And the closing should be timely — a security trading at a significant discount may not be a good investment if the spread closes only over an extended period. In most cases, we try to identify a specific catalyst that will close the gap."
Fixed Formulae don't work in market (loved the story of Becker Vs Andre story and concept of "chicken theory" - https://www.buoyantcap.com/2021/06/04/formulae-dont-work-here-is-why/
Contra Opinion to above article fixed formulas may work - Application of Magic Formula in India Markets - https://financialtales.home.blog/2020/05/04/joel-greenblatts-magic-formula-in-the-indian-context-does-it-work/
Never be over confident in Markets (Unexpected events happens-survival is more important) & LTCM story: https://www.buoyantcap.com/2021/04/16/because-it-has-never-happened-before-tail-risks-and-convex-portfolios/
Pessimism sounds smart as anything that can save your money & reduces risk attracts you more than something that can make you money - Pessimists sounds smart but Optimist make money -https://www.buoyantcap.com/2021/04/23/pessimism-sells-but-does-it-also-pay/
Have an Investment framework but be flexible and change with time - Even the greatest Warren has changed with time: https://www.buoyantcap.com/2020/11/27/hand-of-god-no-rules-rules-and-effectiveness-trumps-efficiency/
Because it has been working since long it must be correct - Case Study TRP rating system of Media Industry - https://www.buoyantcap.com/ratings-cultural-parasitism-and-what-were-you-thinking/
Like Viruses Mutate an investment strategy needs mutation - what worked in 1928s-1958s would have underperformed in past 6 decades - https://www.buoyantcap.com/human-genome-viral-mutations-and-evolving-investment-framework/
When to Average Down and How to do the same - https://www.buoyantcap.com/losing-the-plot/
Every money making strategy works in market but it's important for an individual to figure out which strategy of money making is more suitable given their constraints & personality attributes and than stick to it and improve it overtime: https://marketsense.substack.com/p/market-superpower-understand-your