Submitted by The Capital Spectator

We couldn’t have said it better. In today’s Wall Street Journal, Brett Arends does a stellar job today of summarizing the core ideas behind investment success. Although we quibble with one (can you guess which one?) and would add another (hint: we’re a fan of betas), this list is otherwise a keeper. Here’s an edited listing of the main ideas, although we recommend reading the full article:

1. Invest during a panic.
2. Don’t speculate.
3. Don’t make too many bets.
4. Be very wary of any boom.
5. Don’t put too much weight on expert financial analysis.
6. You don’t need to pick individual stocks.
7. Invest in stages.
8. Only invest for the long-term.
9. Consider picking a really good active fund manager to make your bets for you.
10. Finally, if you’re simply too afraid of taking any risks at all — try thinking about what inflation is going to do to you if you sit in cash on the sidelines.

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