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By James Dolan Finance Investing is, by and large, a numbers game. Calculating rates of return, measuring economic data, interpreting statistics and operating ratios and risk measurements which can tell you whether a building or a bond or a business is actually a good investment – a basic understanding of all of these is critical to the long-term success of any investor. But there is another side to investing, one that is arguably more important than percentages and ratios and calculations. Call it a belief system: a collection of core values that shape and inform the way in which successful investors interpret economic information, formulate long-term strategy and take concrete financial action. These beliefs form a kind of “North Star” that provides confidence, discipline and comfort when they’re faced with difficult decisions or challenging times. Most of us don’t have the same business or financial expertise as Warren Buffett or George Soros or Prem Watsa or other famous investors. And very likely our personal financial goals, our life circumstances and our investment portfolios will be quite different as well. But there’s still considerable value in taking a look at the core beliefs that successful investors share, and trying to understand how we might use those beliefs to guide us in our ongoing efforts to build resilient portfolios and long-term financial security. With that in mind, here’s a collection of the core investment values of successful investors. Call it the millionaire’s manifesto: the financial beliefs that help the best investors in the world build, protect and manage their wealth throughout their lives. The millionaire’s manifesto Foundational beliefs of the world’s best investors (and how you can use them to your advantage) 26 | www.snowbirds.org

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