...excerpt from Mo Lidsky's latest book, Partners in Preservation From the day they are born, children have a proliferation of synapses in the brain. Until the age of three, more and more synaptic connections are formed each day. A toddler is estimated to have as many as a quadrillion synaptic connections, more than double as many as adults. This allows children to be more flexible and adaptable than adults. What follows in the years ahead is referred to as the process of Heb

...excerpt from Mo Lidsky's latest book, Partners in Preservation Identifying the best-in-class investments is first and foremost about avoiding mediocrity. As a general rule of thumb in investing, if something is not a truly high-conviction opportunity, it is always better to pass. The goal is to identify assets or opportunities that possess extraordinary value, purchased at an attractive price, and that are extremely likely to increase in value over time. Getting to this po

...excerpt from Mo Lidsky's latest book, Partners in Preservation Most advisors, just like most investors—even sophisticated ones—respond to opportunities that come to them as opposed to proactively searching out those that are best in class. The amazing thing is that many of these investors are former entrepreneurs, and they would never have operated their businesses that way. If they had a piece of software or piece of machinery to buy, they would survey the universe of tho

...excerpt from Mo Lidsky's latest book, Partners in Preservation Most investors cannot possibly achieve their goals without exposure to a diversity of asset classes. For investors who would like to see their portfolios stand up in almost all market conditions, there is nothing more fundamental than allocating funds across different and varied asset classes where value is derived from fundamentally different sources. There is no shortage of data that shows why this is importa