This is a business. Like any other business.

I found that it was much better to look at the figures rather than people.

Our average holding period is four years.

We do not spend a great deal of time talking to management.

Be aware of the level of the stock market. Are yields low and PE ratios high?

Try to look for weaknesses in your thinking.

Each year we buy stocks and they go up, we sell them and then we try to buy something cheaper.