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Goal Setting
- Set a personal investing goal to guide your decisions and maintain focus.
- A clear goal helps avoid wayward journeys and regrets, aligning your choices with your desired outcome.
Understanding Risk
- Investment risk is not volatility, but the permanent loss of capital.
- Volatility is just price fluctuation; long-term returns matter more.
Assessing Company Risk
- Assess company risk by analyzing debt, assets, management history, and potential fraud.
- Look for red flags like regulatory investigations or a history of bankruptcy.