Disclaimer

On Recommending Stocks

I won't be recommending stocks here or anywhere else. That would go against everything I believe in as an investor. Occasionally I'll share what I'm doing in my personal portfolio on the blog, but that's purely for educational purposes.

Rule #1 is About Owning a Business

Rule #1 is about owning a business, not investing in stocks. Business ownership is deeply personal. When you own a business, you're responsible for the decisions management makes, how employees are treated, and the products or services offered to customers.

The businesses I choose to own reflect my values and character. That's why I can't tell you what to buy—only you know what businesses align with your principles.

The Responsibility of Ownership

As a business owner—even a partial owner through stocks—you bear moral responsibility for that company's impact. This includes:

• Environmental practices and sustainability
• Treatment of workers and labor conditions
• Product quality and customer safety
• Ethical business practices

Shareholders cannot escape these consequences. When you own a piece of a business, you own a piece of everything that business does.

Make Your Own Decisions

This is why you must make investment decisions based on your own knowledge and values. I invest in things I understand—software, search engines, natural foods, beverages. Warren Buffett invests in completely different businesses. Neither of us is wrong; we're simply investing in what we know and believe in.

The Rule #1 Philosophy

"Buy what I understand and you are gambling. Buy what you understand... and you are certain to make money."

This encapsulates the Rule #1 approach: require personal understanding before making any investment. Don't follow tips, don't buy what others recommend—learn to analyze businesses yourself and invest in what you truly understand.