A little bit insight into what kind of asset classes i like and don’t like. Things to keep in mind:
- Safety of cash flows is paramount.
- Capital preservation is more important than capital growth.
- This is not other people’s money so messing up and moving on isn’t really an option. You have to get more right than wrong, constantly.
- My investment horizon is years to decades. The longer, the better. Liquidity for capital deployed is relatively unimportant, but money management is not.
- Something that doesn’t provide a relatively predictable cashflow while maintaining it’s value, is not really a possible investment instrument. At best, it’s a hedging instrument. At worst, it’s a zero sum game with me as the lemur in a room with 700-pound gorillas who are smarter than me.
- I operate in – and exclusively invest in – safe regions, where bureaucratic, tribal and warlord relations don’t affect property rights.