William Ackman: Everything You Need to Know About Finance and Investing in Under an Hour | Big Think

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Equity

Debt

13:26

Worry about losing all the money. Do not worry about too much the price goes up or down in short term. 

How to think about risk? Compare to other alternatives. Bond, debt 3 yr or 5 yr provided by government. 

Stomach to hold on volatility - 

Nature tendency to buy when the stock price goes up, and sell when the price goes down. 

Financial secure - money in the bank, do not need those money in 5 years or 10 years. 

A good money manager:

1. Can easily explain investment strategy
2. Has a good reputation
3. Has value approach
4. Has a successful track record of at least 5 years
5. Has a consistent approach
6. Invests own money in the fund