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Man, those test proctors really come down hard on talking. I got kicked out for bellowing quietly in the corner and chewing on a test booklet.

Recap #3

If you don’t have a lump on your skull from our bludgeoning at this point, maybe we should just use a four iron. A huge part of the 63 tests your judgment in evaluating the notion of "appropriate."

Think about Myron's proposed portfolio: tons of small companies with no dividends and high price-to-earnings ratios. That is, there are great expectations of very high growth, but if a company misses its mark, there is potentially a huge downside.

Unproven areas. Illiquid trading. Weak analyst c...

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