The price earning multiple must be less than ten or the inverse of the long term corporate bond rate, whichever is the less.

Curiosity is the engine of civilisation

The price must be less than one half of the former high and preferably at or near its all time low.

I’m lucky to have the kind of life where the differentiation between work and play is absolutely zilch. I have no idea whether I’m working or whether I’m playing.

The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time.

There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic.

The share price must be less than book value. Preferably it will be less than net working capital less long term debt.