2025 will also see corrections. Focus on owning correct business & the 9 basic principles of investing in small-caps

Each time there is a correction, especially one that extends a couple of weeks, investors tend to get divided into two distinct sets. The first will justify buying wrong stocks by describing themselves as “long-term investors”. The rest, genuine long-term investors, will remain focused on buying the correct business. Now what is a “correct business”? Simple: One with a track record of growth; one that does not require constant doses of capital; and where income is shared with minority investors....