Lone Norwegian wolfI've been pitching a Norwegian tech stock to my US clients recently without any success. I wrote down some lessons I learned in the process. Hopefully some of them are more than meals for a day:

1. These days, some of the most successful companies in the world are platform companies

2. Buy companies that you don't understand. Most likely others don't either and with some homework you can easily get an advantage over the average investor. This is my anti-Buffett rule of investing. Now, do you understand how x makes money? Do you have a grip of all parts of xx?

3. It doesnt matter if the share price is up six fold during the past 12 months, what matters is if the company got cheaper or not in the process. Did xx get cheaper or more expensive when xxx was up 6% yesterday?

4. Sometimes the news follows the price. This is particularly true in Norway. Did xxxx trade up just before the bid last year?

5. If management goes on a buying spree maybe you should too; especially if management has higher degrees than you have. Did xxxxx board go on a buying spree this spring?

6. PE 15 is not necessary expensive for a company growing 150 or 200% and has nok 5 in cash (pre split).

7. A company with no international investors is probably not crowded

8. If the biggest companies in the world wants to be your clients, the business model is probably strong

9. Growth will eventually slow is true for the best companies in the world and every investment I can think of. Is that your or other people's investment obstacle?

10. It doesnt pay to a be a lone wolf/contraian on the sell side, only on the buy side.


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