Leçons de Bill Ackman

Keys to successful investing :

1)      Invest in public companies

2)      Understand how the company makes money

3)      Invest at a reasonable price

4)      Invest in a company that could last forever (eg. Coca-Cola, McDonald’s)

       a.       Product/service people need

       b.      Unique

       c.       Attracts royalty

5)      Find a company with limited debt

6)      Look for high barriers to entry

7)      Invest in a company immune to extrinsic factors

8)      Invest in a company with low reinvestment costs

9)      Avoid businesses with controlling shareholders