People should be highly sceptical of anyone's including their own, ability to predict the future, and instead pursue strategies that can survive whatever may occur.

Flexible approach - will look at ALL asset classes.

The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.

Loss avoidance must be the cornerstone of your investment philosophy.

Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.

Successful investors must temper the arrogance of taking a stand with a large dose of humility, accepting that despite their efforts and care, they may in fact be wrong.

A value strategy is of little use to the impatient investor since it usually takes time to pay off.