Author: Dan Ferris, Daily Wealth

This is the foundation of everything you’ll do right as an investor. You can’t invest at all without it, and the better you are at it, the better you’ll be at other essential investment skills.

I hope our conversation today can help you identify businesses that will succeed when their competitors fail. That’s a worthwhile ability, because it can help you know which companies to buy and which ones to avoid.

Today, you need to prepare for poor returns and lower prices of financial assets.

You need to understand what a mania looks and feels like to survive it…

The current mania may be on its last legs…