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Author: hheiserman Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1814  
Subject: Checklist Investor Quarterly Winter 2012 Date: 2/2/2012 5:20 PM
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The debut issue of Checklist Investor Quarterly is out. If you didn't get your copy, send me an e-mail using my adddress below. Great to hear from so many old friends. The Fool's Tim Beyers--"the hardest working man in the Rocky Mountain States"--is my co-editor. Here is our cover note to the issue. -- Hewitt


Dear Friends,

The stock market in the last dozen years has been colder than the summit of Mt. Everest.

But we are not curling up in the fetal position.

Instead, we are improving our skills, so we can compete smarter. To this end, we are also publishing a new e-letter for our friends, Checklist Investor Quarterly.

Our e-letter is inspired by Dr. Atul Gawande’s excellent book, The Checklist Manifesto. Gawande’s thesis is that airplane pilots, engineers, and other professionals can improve their desired outcomes just by following a repeatable process; i.e., a checklist. Gawande also profiles a few money managers who became checklist investors and saw their performance get better fast.

In addition to anecdotal evidence, Gawande also cites academic research by Geoff Smart, a Ph.D. psychologist, who examined how 51 venture capitalists decided whether to give an entrepreneur money. Among the group, Smart identified a top tier he called Airline Captains for their sky-high 80% median return versus 35% for other personality types. Airline Captains, Smart says, "…took a methodical, checklist-driven approach to their task. Studying past mistakes and lessons from others in the field, they built formal checks into their process. They forced themselves to be disciplined and not to skip steps, even when they found someone they “knew” intuitively was a real prospect.” Smart says the other thinker-types—Art Critics, Sponges, Prosecutors, Suitors, and Terminators—were not failures. “But those who added checklists to their experiences proved substantially more successful."

Our goal with Checklist Investor Quarterly is to share with you the latest thinking from the Internet—a checklist of great ideas, if you will—on how to help you become a better stock-picker. Our motto is: Checklist Investor Quarterly is free, but the information is valuable. If you like what you see, let us know and also pass this issue along to your friends. Anyone who opts in via an email to Hewitt.Heiserman@EarningsPower.com is welcome on our mailing list.

The Spring 2012 issue comes out in April. In the meantime, if you want to share an interesting article with the rest of us, drop us a line.
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