In a prior post, I recommended Michael Shearn’s Investment Checklist: The Art of In-depth Research. A good checklist is short but not too short. If the list is too long, it won’t be used. Warren Buffett and Charlie Munger keep it very simple. The 4 criteria they use to evaluate new business ideas is outlined in Peter Bevelin’s Seeking Wisdom:…
“In expert tennis, 80% of the points are won, while in amateur tennis, 80% are lost. The same is true for wrestling, chess, and investing: Beginners should focus on avoiding mistakes, experts on making great moves.” -Erik Falkenstein Many value investors use checklists as part of their investment process. Perhaps the most notable is Monish Pabrai, whose long-only equity fund…