James Montier (Behavioral Investing Blog and member of GMO’s asset allocation team) recently listed his thoughts on a set of principles for investing, via a guest post over at The Big Picture.

Although the “laws” are different than the Principles of Safe Investing on the Invest Safely website, the article is still worth a read for those of you looking to improve your investing process.

1. Always insist on a margin of safety
2. This time is never different
3. Be patient and wait for the fat pitch
4. Be contrarian
5. Risk is the permanent loss of capital, never a number
6. Be leery of leverage
7. Never invest in something you don’t understand

Click here for the full article.

Sources:
The Seven Immutable Laws of Investing
Barry Ritholtz – The Big Picture
http://www.ritholtz.com/blog/2011/03/the-seven-immutable-laws-of-investing/”

The 10 Principles of Investing Safely
Invest-Safely.com
http://www.invest-safely.com/principles-of-investing.html