This is genuinely one of the most valuable investing frameworks I've encountered. What strikes me most is the emphasis on psychological discipline over analytical sophistication - the checklist reveals that superinvestors win through temperament, not IQ. The 'filters' section is particularly insightfull: knowing what to never touch is as important as identifying opportunities. Your point about concentration (top 5 holdings = 40-60% of portfolio) challenges conventional diversification wisdom but aligns with how fortunes are actually built. The paradox at the end captures everything - they succeed by doing less but better, which requires immense discipline when markets reward activity. The requirement for 30-50% margin of safety is far more conservative than most modern value investors practice, suggesting true superinvestors are willing to wait for exceptional opportunities rather than settle for marginal ones.
This is genuinely one of the most valuable investing frameworks I've encountered. What strikes me most is the emphasis on psychological discipline over analytical sophistication - the checklist reveals that superinvestors win through temperament, not IQ. The 'filters' section is particularly insightfull: knowing what to never touch is as important as identifying opportunities. Your point about concentration (top 5 holdings = 40-60% of portfolio) challenges conventional diversification wisdom but aligns with how fortunes are actually built. The paradox at the end captures everything - they succeed by doing less but better, which requires immense discipline when markets reward activity. The requirement for 30-50% margin of safety is far more conservative than most modern value investors practice, suggesting true superinvestors are willing to wait for exceptional opportunities rather than settle for marginal ones.