Investment Selection Process – Getting To Zero

Investment Selection Process – Getting To Zero by Tom Macpherson, Dorfman Value Investments “Any time you manage other people’s money, risk management should be defined as preventing the permanent impairment of capital. Nothing can be riskier to an equity investor than losing all your money. Anybody who loses sight of this is – quite frankly – both a terrible fiduciary steward and value investor” — Duncan Farquhar In an article on Gurufocus (found here), an investment writer who uses the pen name The Science of Hitting discussed the difficulty in adding to your position after Mr. Market plays havoc on…