Ann: Replacement Prospectus, page-8

Hi Doyle

Before I go on, I should declare my definition of a ‘superior mind’.

Here goes: a professionally trained person with several decades of successful international investing in a broad range of market sectors and various sized companies; this person’s wealth is substantial, directly related to their stock and investment strategies and their material success is recognised and acknowledged by their equally wealthy peers.

Do they get their investments right all the time? Of course not. No one does. But what they do is have a process of investment based on discipline, a rich understanding of the market cycle and a wealth of knowledge that helps them pick winners more often and just as importantly avoid bad trades. These ‘superior minds’ also know how to weigh up the risk reward ratio and never (as far as I can tell) use the single vector of time to see if they have chosen correctly. They do their due diligence, as we all should, and have a low stock turnover.

They are also very aware that it is vital to have a broad range of opinions feeding their own thoughts.


In this sense, since you read the information contained in the link, I’m wondering how you can so easily dismiss Rick Rules’ rational based observations as not being material to the fate of TLU?