The lemonade stand example:
- How business works
- How business generates profits
- How to raise capital to start a company
- How to monetize your business investment
Balance sheet:
- Assets
- Liabilities
- Net worth of the company
Income statement:
Growing the business:
A good money manager:
- Can easily explain investment strategy
- Has a good reputation
- Has value approach
- Has a successful track record, 5-10 years
- Has a consistent approach
- Invests own money in the fund
