Summary : Rule #1 - Phil town

This work offers a summary of the book "e;RULE #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!"e; by Phil Town.Phil Town is well-known as the man who borrowed $1,000 to start investing and ended up with a $1 million investment portfolio within five years. His rule [...]
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This work offers a summary of the book "e;RULE #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!"e; by Phil Town.Phil Town is well-known as the man who borrowed $1,000 to start investing and ended up with a $1 million investment portfolio within five years. His rule #1, which informs all his other decisions, was (and is): don't lose money. In Rule #1, he explains his premise in practical terms for both the beginner and more experienced investor. The first step from rule #1, for example, is, '[a]lways buy a wonderful business at an attractive price': find a wonderful business, determine what it's worth, buy it at 50% off and repeat until rich. Town details specifically how good financiers operate and how they determine what a business is really worth. There are explicit characteristics in a "e;wonderful"e; business, which Town enumerates, along with other crucial data: what are the Big Five numbers which are vital to every deal, and how can you calculate them? What inadequacies to bad businesses have, and how can the informed investor find them before it's too late?Phil Town's Rule #1 is an essential handbook for entrepreneurs and investors: it provides a checklist of vital information, which, if followed, will result in long-lasting success and impressive profits.