The following question came to me from Alex, age 16, who may be the youngest Rule #1 investor to write to me so far. He saw me speak in Boston a few months back and has been emailing me since, practicing by doing a 4M analysis on Delta. For those who, like Alex, don't know where to start when picking a company to research, read on. This is a good refresher for regular readers and a good intro for new ones.
Mr. Town,
I listened with rapt attention to your speech at the Boston seminar, but I must admit that I can't afford success magazine.com and have to use something called smart money instead (same basic idea… imaginary money, buy imaginary stock), and I have very little idea of what I am doing. And I am ashamed to concede this (I hope this doesn't reveal me as ignorant) despite your useful tips and everything, I still have no idea what companies I should be picking…
Alex
My response:
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